The SEC filed a lawsuit against Silvergate Capital Corporation, accusing it of supporting fraud on the FTX exchange. 🏛️ Former CEO Alan Lane and former chief risk officer Kathleen Fraher are accused of misleading investors about their Bank Secrecy/Anti-Money Laundering Act compliance program. Silvergate's former chief financial officer, Antonio Martino, is accused of misleading investors about the company's losses. All parties except Martino agreed to settle the dispute with the SEC. Silvergate agreed to pay a $50 million fine without admitting or denying the charges.