February 3, 2023

Money News PH

The Premier Blog Where Money Talks

FTX CEO Sam Bankman-Fried arrives in the US to press charges

“As alleged, Mr. Bankman-Fried, Ms. Ellison and Mr. Wang were active participants in a plan to conceal material information from FTX investors, including through Mr. Bankman-Fried and Ms. Ellison’s efforts to artificially back the value of FTX that served as collateral for undisclosed loans Alameda made from FTX under its undisclosed and virtually unlimited line of credit,” said Sanjay Wadhwa, deputy director of the SEC’s Division of Enforcement.