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FTX founder Sam Bankman Fried has been accused of defrauding investors.
Bankman Fried, 30, appeared in a Bahamas court under heavy security yesterday after the cryptocurrency exchange collapsed. He then announced that he would fight extradition to the United States.
In the indictment, U.S. Attorneys allege that Sam Bankman misappropriated FTX customer deposits to pay expenses and loans and to defraud customers to make investments on behalf of his crypto hedge fund, Alameda Research LLC.