You thinking of Bankman-Fried? Effective Altruism is much bigger than him, and there's nothing saying people who commit fraud can't also donate to good charities. Some of my friends in tech take the Giving What We Can pledge, where they donate 10% of their salary to charities like the Against Malaria Foundation that have a high investment : life-saving ratio and low management costs. Effective Altruism an ethical thought movement heavily influenced by Peter Singer's philosophy. There are legitamite critisisms of it, but those critisisms are more philosophical, not "it's all fraud, actually."