U.S. securities regulator SECGov is investigating whether investors did their homework before funding the now bankrupt crypto exchange FTX_Official, according to reports. By jackschickler
SEC charged former FTX chief Sam Bankman-Fried
with scheming to defraud equity investors who stumped up over $1.8 billion for the company – but is also probing whether those companies did their homework to ensure the investment was sound, the report said. The report did not name which companies were under investigation, and the probe does not indicate wrongdoing, but will focus on whether the companies fulfilled their fiduciary duty to their own investors, Reuters said.
The collapse of FTX, which filed for Chapter 11 bankruptcy on Nov. 11, has led to a slew of legal cases. Bankman-Fried has also been charged by the U.S.
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