For those wondering what exactly Sam Bankman-Fried did wrong, the civil complaint released today is pretty informative. (Of course, the allegations will have to be proved, but it at least explains clearly the alleged wrongdoing.)
UPDATE: The risk of posting on the run is that things get mixed up. As David Wallace pointed out to me, I did not post the criminal indictment yesterday (as I originally wrote), but rather the civil complaint, which is highly informative. Here is the indictment as well. Note that it charges criminal conspiracy with others "known and unknown" which makes it seem likely more criminal indictments will be coming.
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