Founder of collapsed FTX platform, Bankman-Fried, hit with U.S. fraud charges

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Sam Bankman-Fried, founder of the collapsed exchange FTX has been charged by the U.S. Department of Justice on eight counts, including allegations of fraud, illegal campaign contributions as well as other alleged criminal acts.
Bankman-Fried, commonly referred to as just 'SBF' was arrested in the Bahamas on Monday and is now pending extradition to the U.S.
SBF's request for bail has also been denied and he has been remanded to prison in the Bahamas until February 8th.
It follows the crash of FTX in November mainly due to a lack of liquidity and severe mismanagement of funds, including customer deposits.
The company then filed for bankruptcy preventing users from accessing their digital assets.
A court filing last month also showed that FTX owes its 50 biggest creditors roughly 3.1-billion U.S.-dollars.

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