CFTC Sues Bankman-Fried, FTX and Alameda for Law Violations

The Commodity Futures Trading Commission sued Sam Bankman-Fried, FTX and Alameda Research for violations of federal commodities laws. From a report: The top US derivatives regulator claims Bankman-Fried and other FTX executives took hundreds of millions of dollars in loans from Alameda they used to buy real estate and make donations to politicians. "At Bankman-Fried's direction, FTX executives created features in the underlying code for FTX that allowed Alameda to maintain an essentially unlimited line of credit on FTX," the CFTC said in a complaint filed Tuesday in Manhattan federal court. Further reading: SEC Charges Sam Bankman-Fried With Defrauding Investors in FTX; and FTX Founder Arrested.

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