SBF accused of looting £1.7bn at FTX
SAM Bankman-Fried transferred more than £1.7bn into his personal account before cryptocurrency exchange FTX collapsed, according to court filings.
The co-founder ( pictured), and five others in his circle, sent £2.6bn into their accounts under socalled ‘payments and loans’, bankruptcy court filings by the new managers shown.
FTX, once a £30bn exchange, collapsed in November, freezing customer accounts and sending the crypto market into a frenzy. It allowed users to buy and sell digital ‘coins’ like bitcoin and had around 9m users. BankmanFried faces several charges, which he denies, related to the collapse as he is accused of looting FTX for personal gain, and securities fraud.