Sam Bankman-Fried has been ordered to testify in a Texan court in February to address claims his firm offered unregistered securities, which could see him forced to refund affected users from the state.
Former FTX CEO Sam Bankman-Fried has been called to a Feb. 2 hearing by the Texan securities regulator as part of an investigation into whether he and FTX US have violated Texas securities laws.off by Texas State Securities Board’s director of enforcement Joe Rotunda and served to Bankman Fried on Nov. 29, the regulator alleges that FTX US offered unregistered securities to Texans through its “EARN” accounts.
On Nov. 18, Rotunda used Twitter to appeal to the public to reach out to him if they were a previous client of FTX and based in Texas.and you live in Texas, please reach out to me. We want to hear your story. My Texas State Securities Board email address is [email protected] the latest notice, the SSB alleged that Sam Bankman-Fried violated a section of the Securities Act during his role as the then-CEO of FTX.
The regulator said it hoped that the hearing will lead to a Cease and Desist order to prevent FTX from “engaging in fraud in connection with the offer or sale of securities in Texas.”
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