Column-In the SEC's suit against Bankman-Fried, what about the customers?: Frankel

FILE PHOTO: FILE PHOTO: FILE PHOTO: FILE PHOTO: Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo/File Photo/File Photo

(Reuters) - Federal prosecutors and regulators from the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission all told a similar story on Tuesday about Sam Bankman-Fried's alleged scheme to divert billions of dollars of customers' money from the FTX crypto exchange to Alameda Research LLC.

They all accused Bankman-Fried of fraud, asserting that he repeatedly lied when he insisted that FTX customers' money was safe, secure and completely segregated from the affiliated but purportedly independent Alameda.