FTX founder Sam Bankman-Fried faces indictment in New York | app

NEW YORK (AP) — FTX founder Sam Bankman-Fried will face federal court in Manhattan on Tuesday for deceiving investors and looting customer deposits on his cryptocurrency trading platform.

Bankman-Fried, 30, was charged with illegally embezzle colossal sums money from FTX clients to make lavish real estate purchases, give money to politicians, and do risky trades at Alameda Research, its cryptocurrency hedge fund trading firm.

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