LATEST: The eight-count indictment from the Southern District of New York charges Sam Bankman-Fried with conspiracy and fraud.
The eight-count indictment from the Southern District of New York charges Sam Bankman-Fried with conspiracy and fraud.
There's a final count of conspiracy to violate campaign finance laws through political donations that concealed the source and exceeded the permissible amount. "It’s serious," said Brendan Quigley, a former federal securities fraud prosecutor in New York who is now a partner at Baker Botts."Assuming they can show promises were made to counterparties, investors or clients about where money was going to go, and that it didn't go there, that's a serious offense, probably wire fraud at least.
"We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto," said SEC Chair Gary Gensler.
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