US Prosecutor Investigating Bankman-Fried Fraud
According to Bloomberg, US prosecutors are investigating potential fraud cases involving FTX founder Sam Bankman-Fried (SBF) and other FTX bankruptcy participants.
Prosecutors are now scrutinizing whether hundreds of millions of dollars were improperly transferred to the Bahamas when FTX filed for bankruptcy in Delaware on November 11.
U.S. Justice Department officials have begun a comprehensive investigation into how FTX handles customer cash and assets and met with court-appointed monitors this week to discuss the materials they plan to collect and delve into whether FTX illegally transferred funds to Alameda Research.
According to the New York Times, citing sources, federal prosecutors in Manhattan are investigating whether SBF manipulated the markets of UST and LUNA to benefit entities he controls, including FTX and Alameda Research.
Sources say the investigation is in its early stages, and it’s unclear whether prosecutors have determined any wrongdoing by Bankman-Fried or when they began focusing on the UST and LUNA deals.
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