Sam Bankman-Fried is accused of a huge scheme to defraud investors in failed crypto exchange FTX.
Sam Bankman-Fried, founder of the failed cryptocurrency exchange FTX, has been denied bail by a judge in the Bahamas.
Among the most serious allegations against Mr Bankman-Fried is that he used billions of dollars of customer funds to prop up his investment trading company, Alameda. At a news conference on Tuesday, Damian Williams, the US Attorney for the Southern District of New York, described the fraud Mr Bankman-Fried is accused of as among the largest in US history.
Mr Bankman-Fried also denied allegations he must have been aware that FTX's affiliated trading company, Alameda Research, was using FTX customer funds.
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