Yahoo Finance legal reporter Alexis Keenan details the criminal charges that FTX Founder Sam Bankman-Fried is facing.

Video Transcript

DAVE BRIGGS: All right, Seana, let's get to the other massive story the financial world is consumed by today-- that man. FTX, SBF, and the collapse. The former head of the collapsed crypto exchange FTX, Sam Bankman-Fried, facing a pile of criminal charges and civil claims. The Justice Department earlier today unsealing a federal indictment charging Bankman-Fried with fraud and conspiracy.

The SEC and Commodity Futures Training Commission filed separate suits alleging violations of securities and trading laws. Yahoo Finance's Alexis Keenan joining us with the details. This was action-packed, a very large indictment-- eight charges. What are we learning?

ALEXIS KEENAN: Eight counts and the Department of Justice's criminal indictment, that's the big one, right? So that was handed down by a federal grand jury. And here is what they say Sam Bankman-Fried is guilty of. We've reached out to him to get comment as well.

They say that he committed wire fraud against FTX's customers, also conspiracy to commit wire fraud against customers. That's basically lying in order to get customers' money into the enterprise, right, into that FTX entity platform. Also, conspiracy and wire fraud charges against lenders. Now, that goes to allegations that there are bogus financials given to lenders in order to obtain loans from his entities.

Also, conspiracy to commit commodities fraud, going back to 2019-- now, those first violations I was mentioning, or allegations, those go back to 2019 as well. Also, conspiracy to commit securities fraud, going back to 2022 only-- so less of a timeline there. And that's general securities fraud, also conspiracy to commit money laundering, back to 2020.

There's no detail, really, given on that in this complaint. Finally, there is a charge for conspiracy against the United States for violation of campaign finance laws. So a whole lot going on there. In addition are claims filed by the SEC. Those are violations of securities laws. Also, claims from the CFTC for violations of the Commodity Exchange Act and its regulations. However, we should expect, given the DOJ's charges, that those two suits would be stayed or held pending the outcome of the criminal charges.

SEANA SMITH: A lot of charges facing SBF, that is for sure. Alexis Keenan, thanks so much.