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

CoinTelegraph

While many crypto fraudsters were able to slip through the cracks in the past, the same does not hold for FTX CEO Sam Bankman-Fried (SBF). Running parallel to the ongoing scrutiny related to FTX frauds, the United States Department of Justice (DOJ) is reportedly investigating a potential fraud that involves SBF siphoning funds offshore just days before FTX filed for bankruptcy.

According to a Bloomberg report, the federal investigation aims to examine SBF’s involvement in improperly transferring FTX funds to the Bahamas as the defunct crypto exchange filed for bankruptcy on Nov. 11.

How To Get Free Crypto  

The anonymous informant further revealed that DOJ officials met with FTX’s court-appointed overseers to discuss the scope of the information they need for further investigation. DOJ also plans to investigate whether SBF unlawfully transferred FTX funds to Alameda Research.

Given SBF’s strong connections to US politics, the fraudster has not yet been charged with any crimes and continues to participate in Twitter discussions from undisclosed locations. On Dec. 9, SBF accused Binance CEO Changpeng ‘CZ’ Zhao of lying and backing out last minute from a deal that could save FTX.

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

According to CZ, SBF was “unhinged” at the exchange pulling out — a claim that prompted an online response from the former FTX CEO.

Related: FTX reportedly gets 3 more months to stop all operations in Japan

According to Financial Times, a failed $100-million deal allowed pop star Taylor Swift to walk away without any connection with FTX.

Coinbase Banner  

Taylor was in discussion with FTX for a sponsorship deal, which would have made her one of the faces representing the failed crypto exchanges. While the musician initially refrained from signing the deal as it was expensive, FTX’s bankruptcy shut down the discussion permanently.

Go to Source
Author: Arijit Sarkar


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.