“In November 2022, the general counsel of FTX.US warned employees that they should preserve documents because of the involvement of regulators, and then posted in a company Slack channel that FTX would need to be shut down,” one section of the superseding indictment said. “Bankman-Fried, however, deleted the general counsel’s message about FTX being shut down, continued to use Signal messaging and proceeded to delete some of his own statements on Twitter, including his tweets about customer assets being ‘fine.’”
The FTX founder also allegedly directed the creation of North Dimension, a U.S.-based company, purely to act as an intermediary between FTX and U.S. banks. Prosecutors claim Bankman-Fried lied about North Dimension’s true purpose to get through a bank’s due diligence process.
Moreover, prosecutors hold that Bankman-Fried never segregated FTX customer assets from Alameda assets or other assets, despite “representations … to the contrary.”
Source: Prosecutors’ Case Against FTX’s Sam Bankman-Fried Becomes Clearer