https://www.vice.com/en_us/article/m7gn4x/a-house-of-cards-on-a-foundation-of-deception-sec-charges-sbf-with-defrauding-investors

When it rains, it pours. Hours after former FTX CEO Sam Bankman-Fried was arrested in the Bahamas at the request of U.S. prosecutors, the Securities and Exchange Commission has filed charges alleging that he defrauded investors and customers in a years-long scheme. 

"We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto," said SEC Chair Gary Gensler in a statement, calling the charges a "clarion call" to other crypto platforms to comply with securities law.