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US DOJ Probing FTX's CEO for Allegedly Siphoning Funds Out of the US: Report

  • The US Department of Justice is apparently investigating FTX CEO for illegally channeling funds out of the US.

  • Reports revealed that DOJ officials met with FTX's court-appointed supervisors to discuss the nature of the evidence.

10 Dec 2022 By: Sudeep Saxena
US DOJ Probing FTX's

While several crypto scammers have previously slipped through the 

Cracks,  the same does not hold for FTX CEO SBF. 

Running parallel to the ongoing investigation into FTX scams, the US Department of Justice (DOJ) is apparently investigating a suspected fraud involving SBF siphoning funds overseas just days before FTX filed bankruptcy.

As per reports, the federal investigation will look into SBF's role in fraudulently transferring FTX funds to the Bahamas just after the defunct cryptocurrency exchange filed for bankruptcy on November 11.

The anonymous informant revealed that DOJ officials met with FTX's court-appointed overseers to discuss the nature of the information needed for further inquiry. The DOJ also intends to look into whether SBF illegally transferred FTX funds to Alameda Research.

Given SBF's ties to US politics, the fraudster has yet to be charged and continues to participate in Twitter discussions from an unidentified location. SBF accused Binance CEO Changpeng 'CZ' Zhao of lying and pulling out of an agreement that could save FTX on December 9.

Binance CEO CZ noted that SBF was "unhinged" when the exchange pulled out, prompting the former FTX CEO to respond online.

As recent reports noted that a failed $100 million offer allowed pop diva Taylor Swift to walk away from FTX with no ties.

Taylor was in talks with FTX about a sponsorship deal, which would have made her one of the faces of the failing cryptocurrency exchanges. While the singer initially refused to sign the contract due to the high cost, FTX's collapse effectively ended the discussion.

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