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SBF Wins Texas Case Alleging Violations of Securities Laws via FTX Offerings

Former FTX founder Sam Bankman-Fried gained an early victory in a case concerning Texas security laws.

The Texas State Securities Board (TSSB) filed allegations against Bankman-Fried last October. At that time, the regulator said that Bankman-Fried had violated state securities law when FTX US provided yield-bearing products to customers in the United States.

Today, Texas judge Sarah Starnes ruled that the state securities regulator does not have jurisdiction over Bankman-Fried, who is not a resident of Texas.

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