Disgraced FTX co-founder Sam Bankman-Fried (SBF) faces four more charges after a new indictment was unsealed Wednesday. The charges include operating an unlicensed money transfer operation and conspiracy to commit bank fraud.
SBF gets four new charges added to his indictment,
The former CEO of FTX was originally indicted 72 days ago by a federal grand jury in Manhattan, and prosecutors have charged the crypto exchange co-founder with eight different crimes. The charges include conspiracy to commit wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering.
The new indictment was unsealed by the court on February 22, 2023, adding four new charges to SBF’s case. The charges include operating an unlicensed money transmitter and conspiracy to commit bank fraud. Thenew indictmentstates, “Taking advantage of the trust that FTX customers placed in him and his exchange, Bankman-Fried stole FTX customers’ deposits and used billions of dollars in stolen funds for various purposes.”
The newly revised indictment does not name any other defendants and alleges that SBF “corrupted the operations of the cryptocurrency companies he founded and controlled, including FTX.com and Alameda Research.” The revised indictment further added that SBF “perpetrated this multi-billion dollar fraud through a series of systems and schemes that allowed him, through Alameda, to access and steal FTX customer deposits without detection.”
In addition to unauthorized money transfer operations and bank fraud, SBF is accused of defrauding customers in connection with the purchase and sale of derivatives. In addition, SBF faces charges of making illegal political contributions and defrauding the Federal Election Commission.
Image credits: Shutterstock, Pixabay, Wiki Commons
