Live Updates: FTX founder Sam Bankman-Fried charged with multiple counts of fraud, conspiracy

NEW YORK — Authorities from a wide range of United States agencies held a news conference at the offices of the U.S. Attorney for the Southern District of New York on Tuesday and laid out what they said was a damning case against Sam Bankman-Fried and the cryptocurrency firm FTX he once led .

“By all accounts this is one of the largest financial frauds in American history,” said US Attorney Damien Williams.

Earlier on Tuesday, Williams announced an eight-count indictment that charged Bankman-Fried with conspiracy to commit electronic media fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering, among others accusations. The Securities and Exchange Commission and the Commodity Futures Trading Commission also filed mass complaints.