Sean Shecter, Steven Lee Speak with Law360 About FTX Founder Charges

Atlanta, Ga. (December 14, 2022) - Fort Lauderdale Partner Sean P. Shecter and Atlanta and Savannah Partner Steven H. Lee shared their insights with Law360 for an article titled, "Feds Back FTX Founder Into Corner As Charges Mount," which discusses the recently unsealed eight-count indictment brought against Sam Bankman-Fried following his arrest in the Bahamas. Messrs. Shecter and Lee – who are co-chair and vice-chair of Lewis Brisbois’ Government Investigations & White Collar Defense Practice, respectively – recently authored an Expert Analysis for Law360 outlining the potential charges that could be brought, and they expanded on that analysis in discussing the indictment. 

As the article notes, the charges include wire fraud, conspiracy to commit commodities and securities fraud, conspiracy to launder money, and conspiracy to defraud the U.S. and violate campaign finance laws. Mr. Shecter, a former federal prosecutor, zeroed in on that last charge, noting "[t]he campaign financing to me is the wild card. What does he [Bankman-Fried] know, and if there is a conspiracy, is it with somebody outside FTX in the political arena? That could be very explosive and offer him a way to mitigate if he chooses not to fight the government."

Mr. Lee, also a former federal prosecutor with experience handling fraud cases in the tech sector, told Law360 that the "scope and breadth of an investigation of this type typically takes years, not months," and added that "[t]he government may already be talking to former FTX employees or may have been investigating FTX much earlier than what we know in the public record."

Mr. Shecter, a partner in the firm's Fort Lauderdale office, has extensive experience handling high stakes internal investigations for prominent multinational corporations and financial institutions. In addition to his leadership role in the White Collar Defense Practice, he is also the founder and chair of the firm's Supply Chain Due Diligence Practice, and a member of its Complex Business & Commercial Litigation and Sustainability & ESG Practices.

Mr. Lee, a partner in the firm's Atlanta and Savannah offices, focuses his practice on government and internal investigations, complex litigation matters and white collar criminal defense. He represents businesses, top executives, officers, and individuals in matters of healthcare fraud, federal tax violations, export violations, FCPA, wire fraud, criminal trade secret theft, antitrust compliance, public corruption, and money laundering.

Read the full Law360 article here (subscription may be required). Read Messrs. Shecter and Lee's Expert Analysis article, titled "What To Pay Attention To In FTX Fraud Probe," here.

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