Sam Bankman-Fried Charged With Bribing Chinese Officials

CRYPTO CRASH

Dan Ladden-Hall

News Correspondent

Published Mar. 28, 2023 10:06AM EDT

Mike Segar/Reuters

Prosecutors have accused FTX founder Sam Bankman-Fried of conspiring to bribe Chinese government officials in a new indictment on Tuesday. The filing in the Southern District of New York alleges that the former billionaire directed the transfer of at least $40 million in cryptocurrency to one or more Chinese government officials in November 2021 in order to get access to accounts that had been frozen by Beijing authorities. The 31-year-old previously pleaded not guilty to charges stemming from the collapse of FTX. Prosecutors say Bankman-Fried used customer deposits at FTX to cover losses at the platform’s sister hedge fund, Alameda Research.

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Sam Bankman-Fried Charged With Bribing Chinese Officials

Dan Ladden-Hall

Mike Segar/Reuters