The FCC Alleges That Bankman Freed Orchestrated the Scheme to Defraud Investors

The complaint says that customer money from the ftx exchange was transferred over to alameda and from there alameda made a loan to hundreds of millions of dollars to insiders including back bankman freed. The scc alleges that bankman freed orchestrated this scheme to defraud equity investors but yet as john ray said that this is really old fashioned embezzlement just taking money from customers and using it for your own purposes.