CFTC suing SBF, FTX and Alameda for commodities law violations

The U.S. Commodity Futures Trading Commission is suing former FTX CEO Sam Bankman-Fried, FTX and Alameda Research for violating federal commodity laws.

bloomberg Regulators report filings in Manhattan federal court alleging that SBF and other FTX executives received millions of dollars in loans from Alameda and used the funds to purchase real estate and political donations. did.

Furthermore, the CFTC alleges that the SBF ordered FTX executives to create functionality in the exchange’s code that would allow Alameda to have an “essentially unlimited line of credit on FTX.”

The CFTC’s plan to prosecute SBF comes on the heels of the Securities and Exchange Commission (SEC) indicting the founders of FTX for defrauding investors of about $1.8 billion.

The former CEO of the bankrupt FTX exchange was arrested by Bahamian authorities on Dec. 12 and may be extradited to the US for further trial.

The CFTC post suing SBF, FTX and Alameda for violating the Commodity Law first appeared on CryptoSlate.

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