Sam Bankman-Fried, founder of the crashed crypto exchange FTX, is to appear in a Manhattan federal court later today (January 3) to face charges that include cheating investors out of billions of dollars.
According to reports, Bankman-Fried is charged with eight criminal counts ranging from wire fraud and conspiracy to commit money laundering, to conspiracy by misusing customer funds.
He is expected to plead not guilty but may face up to 115 years in prison if convicted.
FTX was thought to have had 80,000 UK investors.