FTX CEO Sam Bankman-Fried arrested by US request, defrauded investors

Sam Bankman-Fried, the former CEO of cryptocurrency platform FTX, orchestrated a years-long fraud by diverting investors’ funds to his private hedge fund and using them to make venture investments, lavish real estate purchases, and large political donations, the U.S. Securities and Exchange Commission alleged Tuesday in a complaint.

Mr. Bankman-Fried was arrested Monday in the Bahamas, where he has been living, after the U.S. filed criminal charges that will be made public Tuesday, according to U.S. Attorney Damian Williams. The SEC complaint is separate.

A spokesman for Mr. Bankman-Fried had no comment Monday evening. He has a right to contest his extradition, which could delay but probably not stop his transfer to the United States.

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