Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials

Sam Bankman-Fried (SBF), the erstwhile CEO of FTX, present faces a 13-count indictment arsenic U.S. officials person added caller charges. One of the caller charges alleges that SBF leveraged $40 cardinal to power “one oregon much Chinese authorities officials.”

Details of the Bribery Charges Against Sam Bankman-Fried

Sam Bankman-Fried (SBF), the co-founder and erstwhile CEO of FTX, present faces charges of bribing Chinese authorities officials. “Bankman-Fried and others agreed to wage cryptocurrency to 1 oregon much overseas officials successful China to power and induce them to unfreeze the accounts successful bid to assistance Bankman-Fried, Alameda, and others successful obtaining and retaining concern for, and directing concern to, Bankman-Fried, Alameda, and others,” the revised indictment states.

This is not the archetypal clip SBF’s indictment has been revised. In February 2023, Bitcoin.com News reported that SBF’s indictment was revised to see slope fraud charges. SBF faces different charges arsenic well, including defrauding the Federal Election Commission (FEC), ligament fraud, and securities fraud. The erstwhile FTX CEO has pleaded not blameworthy to the charges, but 3 of the firm’s apical deputies person pleaded blameworthy and are cooperating with national prosecutors.

The revised filing indicates that Chinese officials reportedly seized 2 accounts owned by Alameda Research, SBF’s quantitative trading arm, which were allegedly held connected “two of China’s largest crypto exchanges” successful 2021. Once again, the revised indictment does not see immoderate different defendants, and Sam Bankman-Fried is the lone idiosyncratic named.

With the summation of slope fraud charges past period and recently added bribery charges, SBF present faces a full of 13 charges from the Department of Justice successful New York. He besides faces lawsuits filed by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

What bash you deliberation astir the caller charges SBF faces? Let america cognize your thoughts successful the comments conception below.

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