Sam Bankman-Fried (SBF), former CEO of FTX, now faces 13 indictments as US authorities have added new charges. One of the new charges alleges that SBF leveraged $40 million to influence “one or more Chinese government officials.”
Details of the bribery charges against Sam Bankman Freed
Sam Bankman-Fried (SBF), co-founder and former CEO of FTX, is currently charged with bribing Chinese government officials.” Bankman-Fried et al. influenced and induced one or more foreign officials in China to unfreeze their accounts in order to assist Bankman-Fried, Alameda et al. in obtaining and retaining business and directing business to Bankman-Fried, Alameda et al. agreed to pay cryptocurrency to do so.” The amended indictmentstates.
This is not the first time SBF’s indictment has been amended; in February 2023, Bitcoin.com News reported that SBF’s indictment had been amended to include bank fraud charges; SBF also faces other Facing charges as well, the former CEO of FTX has pleaded not guilty, but three of the company’s top vice presidents have pleaded guilty and are cooperating with federal prosecutors.
According to the revised filing, Chinese authorities seized two accounts owned by Alameda Research, the quantitative trading arm of SBF, and allegedly held at “two of China’s largest crypto exchanges” in 2021. Once again, the revised indictment does not include any other defendants and names Sam Bankman Fried as the only individual named.
With last month’s bank fraud charges and the newly added bribery charges, SBF now faces a total of 13 counts from the New York Department of Justice. It also faces lawsuits brought by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
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