cryptonews: A third member of FTX founder Sam Bankman-Fried's innermost circle is being investigated by federal prosecutors 👀
A third member of FTX founder Sam Bankman-Fried's innermost circle is being investigated by federal prosecutors looking into the collapse of the second-largest crypto exchange in a torrent of fraud allegations.from FTX co-founder Gary Wang and former Alameda Research CEO Caroline Ellison, authorities are now focused on the exchange's head of engineering Nishad Singh, Bloomberg reported on Jan. 9.
to transfer FTX customers' funds to Alameda by FTX Digital Markets co-CEO Ryan Salame, who warned Bahamian authorities of the fraud a few days before the exchange collapsed.with eight counts of fraud, conspiracy and money laundering for allegedly taking some $10 billion belonging to one million FTX exchange customers and illegally using it to cover losses by his crypto trading firm Alameda. As much as $8 billion is missing and likely gone.
The second chunk of code allowed Bankman-Fried's firms to shunt billions of dollars in debt "to an FTX customer account that wasn't easily identifiable as belonging to Alameda," Bloomberg said.
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