Cointime

Cointime

Download App
iOS & Android

SBF, FTX, Alameda Sued by the CFTC for Commodities Laws Violations

Validated Media

The US Commodity Futures Trading Commission has today announced a lawsuit against Samuel Bankman-Fried (SBF), FTX trading Ltd., FTX.com and Alameda Research LLC, filed at the United States District Court for the Southern District of New York.

CFTC is Charging SBF, FTX and Alameda With Violating Commodities Laws

The CFTC is charging the three entities with the violations of two existing commodities laws and regulations.

Firstly, SBF, FTX and Alameda are being charged with violating the commodity exchange act and regulations by orchestrating fraud.

The lawsuit explains that the defendants ‘intentionally or recklessly, in connection with contracts of sale of commodities in interstate commerce, directly or indirectly: used or employed, or attempted to use or employ, a scheme or artifice to defraud; and/or engaged in, or attempted to engage in, acts, practices, or a course of business that operated or would operate as a fraud or deceit on customers of FTX Trading.’

Secondly, the CFTC is charging the defendants with ‘fraudulent misstatements of material fact and material omissions.’

The regulator states that the defendants ‘intentionally or recklessly, directly or indirectly made, or attempted to make, in connection with contracts of sale of commodities in interstate commerce, untrue or misleading statements of material fact, or omitted to state material facts necessary to make the statements made not untrue or misleading.’

CFTC Joins the SEC and the US SDNY in Pressing Charges Against SBF

The CFTC is the latest regulatory agency to charge SBF after the SEC earlier today announced similar charges against the former FTX CEO of fraud in the offer or sale of securities and fraud in connection with the purchase or sale of securities.

The United States District for the Southern District of New York (US SDNY) had earlier charged SBF with the following six counts:

  • Conspiracy to commit wire fraud on customers
  • Wire fraud on customers
  • Conspiracy to commit wire fraud on lenders
  • Wire fraud on lenders
  • Conspiracy to commit commodities fraud
  • Conspiracy to commit securities fraud
FTX Alameda SBF CFTC
Comments

All Comments

Recommended for you

  • BTC Surpasses $71,000

    Market data shows that BTC has surpassed $71,000, currently priced at $71,007.73, with a 24-hour decline of 2.79%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Falls Below $2200

    Market data shows that ETH has fallen below $2200, currently priced at $2199.99, with a 24-hour decline of 3.64%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Surpasses $2200

    Market data shows that ETH has surpassed $2200, currently priced at $2201.53, with a 24-hour decline of 3.92%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $71,000

    Market data shows that BTC has surpassed $71,000, currently priced at $71,007.05, with a 24-hour decline of 2.81%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Falls Below $71,000

    Market data shows that BTC has fallen below $71,000, currently priced at $70,974.17, with a 24-hour decline of 2.69%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Trump: U.S. Navy to Begin Blockade of Strait of Hormuz

    U.S. President Trump: The talks between the U.S. and Iran are going well, with most topics reaching a consensus, but the only truly important nuclear issue has not been resolved. Effective immediately, the U.S. Navy will begin a blockade of any vessels attempting to enter or exit the Strait of Hormuz. I have also instructed the U.S. Navy to search and seize every ship in international waters that has paid a toll to Iran.

  • U.S. Negotiation Team Members Have All Left Pakistan

    On April 12, a U.S. official stated that after the U.S.-Iran talks concluded, all members of the U.S. negotiation team have left Pakistan. The official noted that personnel, including Witkoff, Kushner, and the technical team, did not remain in the capital of Pakistan, indicating that both sides will not immediately resume direct negotiations. Earlier that day, Vance mentioned at a press conference in Islamabad that the U.S. has not reached a consensus with Iran and will return to the United States. The negotiations between the U.S. and Iran in Islamabad ended on the 12th without any agreement. The Iranian side stated that the talks were conducted in an atmosphere of 'distrust and suspicion,' with both sides having differences on two or three key issues. The U.S. side claimed that it had clearly outlined its 'red lines,' but the Iranian side did not accept the U.S. conditions.

  • ETH Falls Below $2200

    Market data shows that ETH has fallen below $2200, currently priced at $2195.81, with a 24-hour decline of 1.97%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $73,000

    Market data shows that BTC has surpassed $73,000, currently priced at $73,010, with a 24-hour increase of 3.3%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Iranian Armed Forces Declare Readiness to Fire at Any Time

    On April 10, a spokesperson for the Central Headquarters of the Iranian Armed Forces, Khatam al-Anbiya, stated that due to the repeated breaches of trust by the United States and Israel, the Iranian Armed Forces remain on full alert and are ready to fire at any time. (Xinhua News Agency)

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company