Sam Bankman-Fried Charged by DOJ for Allegedly Bribing Chinese Government Officials With $40,000,000

The disgraced co-founder of collapsed crypto alternate FTX is being slapped with an entire new spherical of felony costs.

Based on new court docket documents, former crypto billionaire Sam Bankman-Fried is now being charged by the U.S. Division of Justice (DOJ) for allegedly bribing Chinese language officers with tens of tens of millions of {dollars}.

In a brand new superseding indictment submitted to the Southern District of the New York US District Court docket at present, prosecutors representing america assessment the fees towards Bankman-Fried.

“From at the very least in or about 2019, as much as and together with in or about November 2022, Samuel Bankman-Fried, a/okay/a ‘SBF,’, the defendant, corrupted the operations of the cryptocurrency corporations he based and managed – together with FTX and Alameda Analysis – via a sample of fraudulent schemes that victimized FTX clients, traders, monetary establishments, lenders, and the Federal Election Fee.”

The prosecution alleges SBF stole buyer deposits to maintain his frauds afloat, make speculative investments, contribute to charities, and make himself wealthy. Additionally they insinuate SBF tried to purchase off American politicians earlier than alleging SBF additionally tried to bribe Chinese language authorities officers.

“He additionally conspired to bribe a number of Chinese language authorities officers with a purpose to regain entry to Alameda buying and selling accounts that had been frozen by Chinese language regulation enforcement authorities.”

The doc goes on to allege that SBF’s tried bribery ran a price ticket of at the very least $40,000,000.

SBF’s representatives have but to touch upon the brand new allegations at time of publishing.

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