The Prager Metis partner who led the audits of collapsed crypto trading platform FTX has agreed to a two-year professional suspension for what the SEC called “negligent” work.
Francis Decker failed to understand the financial relationship between FTX and trading firm Alameda Research, both founded and owned by Sam Bankman-Fried, according to a settlement order the Securities and Exchange Commission released Wednesday.
- That related party relationship “was at the heart of the misappropriation of billions of dollars of FTX customer assets” that ultimately led to the exchange’s 2022 collapse, the order stated. The auditors didn’t understand Alameda’s ability to ...