FTX's Bankman-Fried charged by US for ‘scheme’ to defraud
The indictment says that, beginning in 2019, Bankman-Fried intentionally devised “a scheme and artifice to defraud” FTX's customers and investors, diverting their money to pay expenses and debts at his crypto hedge fund, Alameda Research, and to make lavish real estate purchases and large political donations.
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