https://www.eastbaytimes.com/2022/12/13/ftxs-bankman-fried-charged-by-us-for-scheme-to-defraud/

NEW YORK (AP) — U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes and campaign finance violations on Tuesday, alleging he played a central role in the rapid collapse of FTX and hid its problems from the public and investors.

The indictment says that, beginning in 2019, Bankman-Fried intentionally devised “a scheme and artifice to defraud” FTX’s customers and investors, diverting their money to pay expenses and debts at his crypto hedge fund, Alameda Research, and to make lavish real estate purchases and large political donations.