FTX boss Sam Bankman-Fried heads to US to face charges

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“As alleged, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang had been energetic contributors in a scheme to conceal materials data from FTX buyers, together with by means of the efforts of Mr. Bankman-Fried and Ms. Ellison to artificially prop up the worth of FTT, which served as collateral for undisclosed loans that Alameda took out from FTX pursuant to its undisclosed, and just about limitless, line of credit score,” in accordance to Sanjay Wadhwa, deputy director of the SEC’s Division of Enforcement.

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