34.9 F
Chicago
Tuesday, December 24, 2024

SBF Charged With Funneling $40M In Crypto To Bribe CCP Officials

Must read

SBF Charged With Funneling $40M In Crypto To Bribe CCP Officials

Federal prosecutors in Manhattan have hit FTX founder Sam Bankman Fried (“SBF”) with a new 13-count indictment accusing him of funneling $40 million in cryptocurrency to ‘one or more’ Chinese government officials, in order to “influence and induce them” to unfreeze Alameda Research trading accounts holding over $1 billion in crypto.

He is accused of conspiring to violate anti-bribery provisions of the Foreign Corrupt Practices Act.

In the Tuesday court filing, prosecutors asked US District Judge Lewis Kaplan to arrange a court hearing in order to arraign Bankman-Fried on the new charges.

“The S5 Indictment, which was unsealed this morning, includes the twelve counts contained in the S3 Superseding Indictment, as well an additional count for conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act (‘FCPA’), in violation of 18 U.S.C. § 371,” reads a letter to the judge, Coindesk reports.

The 31-year-old previously pleaded guilty to eight counts related to the collapse of FTX, after prosecutors accused him of stealing billions of dollars in customer assets to try and stop Alameda Research – his crypto hedge fund – from imploding.

Tyler Durden
Tue, 03/28/2023 – 09:39

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article