US Justice Department , Seeks Probe Into , FTX Fraud Allegations.
Authorities in the United States are reportedly pushing for an independent examiner to investigate fraud allegations against FTX.
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Authorities in the United States are reportedly pushing for an independent examiner to investigate fraud allegations against FTX.
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Business Insider reports that a court filing submitted by the Justice Department calls for a probe into alleged wrongdoing that led to the company's crash.
Business Insider reports that a court filing submitted by the Justice Department calls for a probe into alleged wrongdoing that led to the company's crash.
An examiner could – and should – investigate the substantial and serious allegations of fraud, dishonesty, incompetence, misconduct and mismanagement by the Debtors, Justice Department, court filing, via Business Insider.
An examiner could – and should – investigate the substantial and serious allegations of fraud, dishonesty, incompetence, misconduct and mismanagement by the Debtors, Justice Department, court filing, via Business Insider.
This is especially true where, as here, there are colorable claims that certain of the Debtors misappropriated $10 billion of their customers' assets, Justice Department, court filing, via Business Insider.
This is especially true where, as here, there are colorable claims that certain of the Debtors misappropriated $10 billion of their customers' assets, Justice Department, court filing, via Business Insider.
According to various reports and filings, FTX was funneling customer funds into Alameda Research, the crypto-trading arm of Bankman-Fried's empire.
According to various reports and filings, FTX was funneling customer funds into Alameda Research, the crypto-trading arm of Bankman-Fried's empire.
The same filings and reports showed that $300 million of customer funds were also used to purchase luxury homes in the Bahamas.
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Business Insider reports that $2 billion of customer funds are still unaccounted for.
Bankman-Fried has denied allegations of fraud, claiming that he was unaware of what was occurring at his companies.
Bankman-Fried has denied allegations of fraud, claiming that he was unaware of what was occurring at his companies.
I didn't ever try to commit fraud on anyone.
I was shocked by what happened this month, Sam Bankman-Fried, 'New York Times' DealBook summit statement, via Business Insider.
Business Insider reports that the collapse of FTX has sent waves through the crypto market, sparking concerns that further turmoil will rattle the industry.
