WASHINGTON – The U.S. Securities and Exchanges Commission on Tuesday announced charges against the founder of cryptocurrency exchange FTX, Sam Bankman-Fried, accusing him of defrauding investors in what regulators called “a house of cards.”
In a statement, the SEC said it would seek an injunction to prevent Bankman-Fried from future securities trading except for his personal account and a civil penalty, among other actions.
Separate charges would be announced by the U.S. Attorney’s Office for the Southern District for New York and the Commodity Futures Trading Commission later on Tuesday, the SEC said.