- The SEC has authorized charges against FTX founder Sam Bankman-Fried, the regulator announced Monday.
- The announcement came shortly after Bankman-Fried was arrested by Bahamian authorities.
- Bankman-Fried stepped down as CEO of FTX on Nov. 11, the same day the exchange filed for Chapter 11 bankruptcy.
The U.S. Securities and Exchange Commission said it would file charges against FTX founder Sam Bankman-Fried on Tuesday for violating securities laws.
The SEC made the announcement Monday, shortly after Bahamian authorities arrested Bankman-Fried, the US Attorney’s Office for the Southern District of New York confirmed.
“We commend our law enforcement partners for securing the arrest of Sam Bankman-Fried on federal criminal charges,” SEC Chief Enforcement Officer Gurbir Grewal wrote in a statement released. on Twitter.
— United States Securities and Exchange Commission (@SECGov) December 13, 2022
Bankman-Fried resigned as CEO of FTX on Nov. 11, the same day the exchange filed for Chapter 11 bankruptcy, after it failed to secure a bailout after an intense liquidity shortage in ‘one week.
The SEC did not immediately respond to Insider’s request for comment sent outside of normal business hours.
This is a developing story. Check back for updates.