New Federal Lawsuit Filed Against Sam Bankman-Fried and FTX Over Alleged 400 Million Counterfeit AMC Tokens; Related Market-Manipulation Appeal Pending in the Eleventh Circuit

Market Manipulation Naked Shorting Dark Pool Abuse Spoofing washing AMC GME NWBO MMTLP GNS BINI

FORT LAUDERDALE, FL, November 20, 2025 /24-7PressRelease/ -- Licensed private investigator and financial-crimes specialist Donnahue George has filed a major federal lawsuit in the United States District Court for the Southern District of Florida (Case No. 25-cv-62222) against Sam Bankman-Fried, Caroline Ellison, and multiple FTX-related entities. The complaint alleges that FTX secretly created more than 400 million counterfeit AMC 'tokenized shares' used as false locates to enable illegal short selling and manipulate AMC's share price, causing extensive harm to retail investors.

George, who holds a Bachelor's Degree in Criminal Justice, a Juris Doctorate, and certification in Financial Crimes Investigations from Utica University, asserts that these synthetic AMC tokens directly facilitated a nationwide securities fraud scheme.

"Sam Bankman-Fried defrauded millions, and nearly everyone has been made whole—except AMC investors," said George. "My lawsuit seeks to correct that injustice. Retail shareholders were targeted, misled, and financially damaged by a system designed to hide manipulation. This case will finally expose the truth."

The Lawsuit: 400 Million Counterfeit AMC Tokens
The filing alleges that FTX created more than 400,000,000 synthetic AMC tokens without authorization. These tokens were used by market participants as fake locates to satisfy SEC borrowing requirements, allowing repeated naked short selling that artificially suppressed AMC's share price. Retail investors were never informed of the counterfeit supply distorting price discovery.

The lawsuit asserts claims including:
• Securities Fraud
• Racketeering (RICO)
• Wire Fraud
• Market Manipulation
• Civil Conspiracy
• Negligence & Gross Negligence

Second Active Case: Market Manipulation Appeal Against Citadel
George also has a separate active case pending in the United States Court of Appeals for the Eleventh Circuit: George v. Ken Griffin, Citadel Securities, Citadel LLC, FINRA, DTCC, Robinhood, and related parties (Case No. 24-13718). The appeal alleges antitrust violations, dark-pool abuse, synthetic liquidity, and coordinated industry actions that harmed AMC and GME retail investors.

Background on Sam Bankman-Fried and Caroline Ellison
Sam Bankman-Fried, former CEO of FTX, was convicted on multiple federal fraud counts for operating one of the largest financial frauds in history. Caroline Ellison, former CEO of Alameda Research, pleaded guilty and cooperated with prosecutors, admitting that Alameda misused customer funds and manipulated markets.

George's lawsuit details how FTX and Alameda created synthetic 'wrapped' or 'tokenized' AMC shares that allowed offshore exchanges to bypass U.S. regulatory oversight, fueling illegal short-selling strategies that harmed American retail investors.

A Mission to Restore Fair and Transparent Markets
As a licensed private investigator and certified financial-crimes examiner, George has spent years researching structural flaws in U.S. equity markets. He has become an outspoken advocate for restoring transparency and integrity to the system.

"I will uncover fraud and corruption in the markets wherever it hides," George said. "Retail investors deserve a fair market—not a rigged game dominated by hedge funds and offshore exchanges."

Media Contact
Donnahue George
Licensed Private Investigator • JD • Financial Crimes Investigator
Fort Lauderdale, FL
Phone: (347) 216-5257
Email: DonnahueGeorge@gmail.com



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