Federal prosecutors and regulators from the US Securities and Exchange Commission and US 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. 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. According to the indictment unsealed on Tuesday in federal court in Manhattan and separate complaints filed on Tuesday by the SEC and the CFTC, Bankman-Fried knew or should have known that money was being siphoned from FTX customer accounts to fund Alameda’s speculative trading and that, despite its repeated protestations to the contrary, FTX gave Alameda special trading privileges that ultimately proved disastrous for the platform and its customers. Who were the victims of this alleged fraud? The CFTC’s complaint highlighted the deception of FTX users who, in the regulator’s telling, were duped into believing that their money was …