How Hard Is It to Make a Criminal Case Against Sam Bankman-Freeid?

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Sam Bankman-Freeid, or SPF as he's known in the financial world, is accused of using client funds to buy lavish properties. Financial and legal experts say it will be difficult to make a clear case against him because FTX is based in the Bahamas; U.S. securities laws typically only apply to domestic deals. Even if prosecutors can prove that he was using client funds for these things, that doesn't mean it'll be easy to make a criminal case against SBF.

As the fallout from the FTX cryptocurrency scandal continues, the exchange’s embattled 30-year-old founder, Sam Bankman-Fried, has begun making the media rounds defending his actions. The company is facing legal consequences as tens of billions in digital assets have been wiped out — and around $2 billion in client funds are still unaccounted for. Daily Wire culture reporter Megan Basham digs into the what led to FTX’s downfall and what the wider impact might be on the financial markets. Get the facts first on Morning Wire.