The Commodity Futures Trading Commission (CFTC) today announced the U.S. District Court for the Southern District of New York entered a consent order of permanent injunction and other equitable relief against FTX Trading Ltd. and Alameda Research LLC and ordered FTX to pay $12.7 billion in monetary relief to FTX customers and victims of FTX’s fraud.
The order requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement, which will be used to further compensate victims for losses suffered as a result of the massive fraudulent scheme orchestrated by Samuel Bankman-Fried, his now-bankrupt FTX group of companies, and a core group of FTX insiders.
In addition, the order finds FTX violated the Commodity Exchange Act (CEA) and CFTC regulations, imposes injunctions against further violations of…
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