Vox Sentences - Charges against Sam Bankman-Fried

FTX’s Sam Bankman-Fried is charged with financial crimes; Bolsonaro supporters attack police headquarters in Brazil.

Tonight's Sentences was written by Jariel Arvin.

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US charges FTX founder with defrauding investors

Matias J. Ocner/Miami Herald/Tribune News Service via Getty Images

• Tuesday, US prosecutors announced charges against Sam Bankman-Fried detailing financial crimes, including wire fraud, money laundering, and campaign finance violations. [Vox / Emily Stewart]
• The Securities and Exchange Commission also filed civil charges against Bankman-Fried, saying he defrauded investors and used customer funds to buy property and make political contributions. [New York Times / Matthew Goldstein]
• Bankman-Fried was the founder and former CEO of failed cryptocurrency exchange FTX; authorities began investigating FTX after it suddenly collapsed last month amid a surge in customers trying to withdraw their money. [Vox / Whizy Kim]
• Bankman-Fried has admitted to poor management and lack of controls at FTX but denied wrongdoing. [CNN / Allison Morrow]
• Police arrested Bankman-Fried on Monday at his apartment in the Bahamas at the request of the US. If convicted, he could face decades in prison. [Associated Press / Ken Sweet and Fatima Hussein]

Bolsonaro supporters riot in Brazil

• Supporters of Brazilian President Jair Bolsonaro tried to storm federal police headquarters in the capital, Brasilia, late Monday. [Washington Post / Elizabeth Dwoskin and Gabriela Sá Pessoa]
• The clashes broke out after the Supreme Court ordered the arrest of Indigenous leader and Bolsonaro supporter José Acácio Serere Xavante for anti-democratic acts. [Reuters / Ueslei Marcelino and Victor Borges]
• Xavante, and other Bolsonaro supporters, had called for stopping the certification of Luiz Inacio “Lula” da Silva’s win over Bolsonaro in the October elections. [BBC / Vanessa Buschschlüter]
• Da Silva’s win was successfully certified Monday; however, the violence sparked fears of further attempts to disrupt Lula’s inauguration on January 1. [Guardian / Tom Phillips]

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Last week, Trump-appointed Judge Matthew Kacsmaryk issued a decision attacking a federal program that helps fund contraception. [Vox / Ian Millhiser]

• Wisconsin police are seeking information about the shooting of a bald eagle; the eagles are protected by federal law. [AP]
• Consumer prices fell more than expected last month, indicating that inflation could be easing. [Washington Post / Rachel Siegel]
• Twitter is forecasted to lose 32 million users by 2024 as people quit the platform over hate speech and technical issues. [Guardian / Mark Sweney]

“In a very real way, SBF did this to himself, and its impacts will be felt across the ecosystem even by those trying to make a real difference.”

[Scott Moore, co-founder of Gitcoin, on the collapse of FTX / Vox]

Hint of crime

Tostitos chips without real lime. Root beer made with fake vanilla. Instant mac and cheese that isn’t so instant. These products are among the hundreds targeted by lawyer Spencer Sheehan, who wants Big Food to stop misrepresenting its products.

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