And former crypto billionaire SBF is now in FBI custody
are both criminal and civil, and have been brought by the SDNY, the CFTC, and the SEC. Allegedly, FTX customer funds were used for loans to executives, risky trading by Alameda Research, political donations, and lavish spending on everything from beachfront homes to private jet flights.and CFTC have already filed updated civil suits including details on Wang and Ellison’s roles.
The SEC complaint outlines how “Bankman-Fried and Wang thus gave Alameda and Ellison carte blanche to use FTX customer assets for Alameda’s trading operations and for whatever other purposes Bankman-Fried and Ellison saw fit.” On the same day, the Bahamas extradited Sam Bankman-Fried and sent him on his way back to the US. Williams confirmed Bankman-Fried is now in FBI custody and said he would be transported directly to New York to appear before a judge “as soon as possible.”
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