Authorities arrested Bankman-Fried on Dec. 12, 2022, for multiple fraud charges with FTX.
Bankman-Fried was indicted by the U.S.
District Court on eight criminal charges, including money laundering, wire fraud, campaign finance violations and securities fraud.
Bankman-Fried was released from custody with a $250 million bond, which is the largest in history.
As of January 2023, $5 billion in assets has been recovered in cash and liquid assets. The total assets missing was estimated at $8 billion.
FTX investors filed a class action lawsuit against FTX and its celebrity endorsers on Nov. 15, 2022. The civil suit claimed FTX used "false representation and deceptive conduct." The lawsuit also accused FTX of using a Ponzi scheme to misuse funds and move customer money between entities.
