A star witness has alleged that FTX head Sam Bankman-Fried told her to commit crimes and mislead lenders in a new set of criminal charges that have stunned the cryptocurrency world.
The witness, identified in legal filings as “GG”, said she was urged to use her identity and banking accounts to move money for Bankman-Fried and his colleagues. She said Bankman-Fried knew that this activity was unlawful and potentially fraudulent and yet nonetheless brazenly and repeatedly instructed her to engage in such activity, according to the legal documents.
GG said she was told to mislead lenders, move money from one account to another without authorization, and falsely represent the source of money transfers.
GG’s testimony has been made public after she filed a complaint with the Securities and Exchange Commission alleging fraud, misappropriation, and violations of securities laws. The SEC complaint references Bankman-Fried’s alleged involvement in the deeds GG claims she was asked to commit.
The allegations made by GG have rocked the cryptocurrency world, with many crying foul and claiming the charges are unfounded. Nevertheless, the criminal complaint and the SEC’s investigation are ongoing, as multiple parties are hotly contesting the claims.
With so much at stake, it is critical that the legal system takes these allegations seriously and that justice is served. Cryptocurrency companies like FTX must be held accountable for any involvement in dubious financial activities or crimes, as it is essential to deter bad actors and maintain the integrity of the industry.