According to reports, US prosecutors are investigating Sam Bankman-Fried, founder of FTX, for fraud

US federal prosecutors could bring a fraud case against Sam Bankman Fried, former CEO of FTX, and founder of the company. According to reports, Justice Department officials met this week with the bankruptcy team of the cryptocurrency exchange to discuss documents investigators are looking for from the company.

The meeting featured prosecutors from New York’s Southern District and Assistant US Attorney Ross, as well as agents from the FBI and FTX. Ross participated in the trial in particular. , who was convicted in April of misleading investors. According to bloombergThis week’s meeting did not discuss possible charges.

The Department of Justice is closely investigating whether FTX improperly transferred millions of dollars at a time when the company declared insolvency. . It is also investigating whether the exchange violated the law by transferring funds to Alameda Research, a sister company.

In his speech Bankman-Fried has denied intentionally misusing customer money. “Obviously I made a lot of mistakes. There are things I would give anything to be able to do again,” he said. “I never try to defraud anyone.” He will Next week, the House Financial Services Committee will hear testimony from John J. Ray III, FTX’s current CEO. Ray Bankman accused Fried, of making “erratic statements and misleading public statements about FTX.”