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Prosecutors with the U.S. Attorney's office in Manhattan say Bankman-Fried used FTX customer money from the exchange's 2019 launch until its November 2022 bankruptcy in order to prop up his hedge fund, Alameda Research, buy luxury real estate, and donate to U.S. political campaigns and candidates.
Cryptocurrency News: Sam Bankman-Fried, the former billionaire and founder of FTX cryptocurrency exchange, is set to go on trial for allegedly stealing billions of dollars
US News: Sam Bankman-Fried's fraud trial could potentially involve witnesses such as his father, brother, and Anthony Scaramucci. The trial, expected to last s
Federal prosecutors say the 31-year-old former billionaire embezzled from FTX customers since its founding in 2019 through its November 2022 bankruptcy in order to prop up his hedge fund Alameda Research, buy luxury properties and donate more than $100 million to US political candidates.