FTX’s Accounting Firm Prager Metis to Pay SEC $1.95M to Settle Negligence Allegations

“Because Prager’s audits of FTX were conducted without due care, for example, FTX investors lacked crucial protections when making their investment decisions. Ultimately, they were defrauded out of billions of dollars by FTX and bore the consequences when FTX collapsed,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, in a press statement.