Friday, June 14, 2024

US DOJ reportedly investigating FTX CEO for siphoning funds out of the US

by Jeremy

Whereas many crypto fraudsters have been in a position to slip by the cracks up to now, the identical doesn’t maintain for FTX CEO Sam Bankman-Fried (SBF). Working parallel to the continuing scrutiny associated to FTX frauds, america Division of Justice (DOJ) is reportedly investigating a possible fraud that entails SBF siphoning funds offshore simply days earlier than FTX filed for chapter.

In accordance to a Bloomberg report, the federal investigation goals to look at SBF’s involvement in improperly transferring FTX funds to the Bahamas as the defunct crypto change filed for chapter on Nov. 11.

The nameless informant additional revealed that DOJ officers met with FTX’s court-appointed overseers to debate the scope of the knowledge they want for additional investigation. DOJ additionally plans to research whether or not SBF unlawfully transferred FTX funds to Alameda Analysis.

Given SBF’s sturdy connections to US politics, the fraudster has not but been charged with any crimes and continues to take part in Twitter discussions from undisclosed places. On Dec. 9, SBF accused Binance CEO Changpeng ‘CZ’ Zhao of mendacity and backing out final minute from a deal that would save FTX.

The duel between the CEOs, CZ and SBF. Supply: Twitter

Based on CZ, SBF was “unhinged” on the change pulling out — a declare that prompted a web-based response from the previous FTX CEO.

Associated: FTX reportedly will get 3 extra months to cease all operations in Japan

Based on Monetary Instances, a failed $100-million deal allowed pop star Taylor Swift to stroll away with none reference to FTX.

Taylor was in dialogue with FTX for a sponsorship deal, which might have made her one of many faces representing the failed crypto exchanges. Whereas the musician initially avoided signing the deal because it was costly, FTX’s chapter shut down the dialogue completely.