Prager Metis has agreed to pay $1.95 million to settle SEC charges brought over botched audits for collapsed crypto trading platform FTX and separate conflict of interest violations.
The auditor, with little crypto industry experience, failed to follow basic audit standards when vetting the books of the exchange from 2021 to 2022, the Securities and Exchange Commission said Tuesday. The agency said one of the firm’s significant failures was not addressing risks from FTX’s relationship with Alameda Research LLC, the crypto hedge fund founded by Sam Bankman-Fried, who was also the crypto exchange’s CEO.
Prager Metis CPAs LLC, a New ...
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