FTX used 'weird Korean account' to mask Alameda liabilities, C | .

FTX used 'weird Korean account' to mask Alameda liabilities, CFTC says

Former CEO of FTX Sam Bankman-Fried directed company executives to reallocate Alameda Research's large liability with the exchange to "the weird Korean account" to mask its liability with the firm, according to a complaint by the Commodities Futures Trading Commission.

The CFTC, the U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney's Office for the Southern District of New York (SDNY) all brought numerous charges of fraud against Bankman-Fried on Tuesday over the collapse of FTX and Alameda. Bankman-Fried is currently being held in jail in the Bahamas awaiting an extradition hearing, after not receiving bail.

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