In a brand new indictment unsealed on Tuesday, officers charged Sam-Bankman Fried with bribing Chinese language officers to launch frozen belongings.
Federal prosecutors have accused Sam Bankman-Fried (SBF), former CEO of failed cryptocurrency alternate FTX, of trying to bribe “a number of” Chinese language authorities officers with $40 million, the purpose being to launch $1 billion value of frozen digital belongings belonging to his hedge fund, Alameda Analysis.
Bankman-Fried is already going through eight legal counts of fraud and conspiracy and has not but been arraigned on 5 others. He may face greater than 155 years in jail if convicted on all counts — the trial has been scheduled for October.
The brand new indictment towards Bankman-Fried, unsealed by the Southern District Courtroom of New York on Tuesday, alleges that Bankman-Fried devised fraudulent schemes to steal deposits from FTX with the purpose of financing dangerous bets at Alameda Analysis. As well as, SBF contributed to American politicians with out correct documentation, all whereas dwelling within the Bahamas. FTX’s collapse and subsequent chapter left the trade reeling, because it was as soon as one of many largest and most trusted exchanges.
SBF stays beneath home arrest at his mother and father’ house in Palo Alto, California, with restricted actions. Three of his former enterprise companions, together with FTX co-founder Gary Wang and Alameda Analysis CEO Caroline Ellison, have already pleaded responsible to their respective expenses.
On Tuesday, Decide Lewis A. Kaplan permitted a modification to Bankman-Fried’s bail phrases to restrict his entry to the web. This transfer adopted considerations about his use of a digital personal community, which masks the placement of an web connection. Bankman-Fried shall be allowed to make use of a VPN solely to entry a database to assist put together his protection, by way of a laptop computer supplied by his attorneys in accordance with the modification.
![Top Bitcoin Betting Sites for Los Angeles Dodgers Matches [August 2025]](https://static.news.bitcoin.com/wp-content/uploads/2025/08/dodgers.png "Top Bitcoin Betting Sites for Los Angeles Dodgers Matches [August 2025]")
