NY Prosecutors Looked Into FTX For Months Before The Crash

Prior to the collapse of the cryptocurrency exchange FTX, New York prosecutors were apparently looking into the exchange.

The Southern District of New York's U.S. Attorney's office has reportedly been closely scrutinizing FTX operations for some months, according to Bloomberg News on Monday. Before Sam Bankman Fried's FTX cryptocurrency business failed last month, federal prosecutors in Manhattan were aware of it.

U.S. Attorney Damian Williams for the Southern District of New York is in charge of the investigation. He is concentrating on FTX transactions in both domestic and offshore countries.

Reports, according to the source, have shown that the defunct exchange had transactions with the Ukrainian government. Sam Bankman Fried, the chief executive of FTX, was the second-largest Democrat contributor during the midterm election campaign. The story also implied that authorities in New York could be in possession of proof of FTX's dubious business practices.

Republicans in the House are questioning Antony Blinken, the secretary of state, on their concerns that possibly illegal investments in FTX Trading Limited may have been made using military assistance to Ukraine. 

The preceding is a summary of an article that originally appeared on Red State.

Written by Staff Reports

Leave a Reply

Your email address will not be published. Required fields are marked *

President Biden Uses Government Purchasing to Promote Renewable Energy

Elon Confirms Twitter Was TARGETING Conservatives With Censorship Program