Sam Bankman-Fried charged with allegedly paying $40 million bribe to China
Bankman-Fried is now facing 13 charges.
Updated: March 28, 2023 - 10:59am
Sam Bankman-Fried, founder of the failed cryptocurrency platform FTX, was charged with allegedly paying $40 million in bribes to one or more Chinese government officials, according to an indictment unsealed Tuesday.
Manhattan federal prosecutors charged Bankman-Fried with directing money to Chinese authorities to unfreeze more than $1 billion in accounts from his hedge fund, Alameda Research.
After the alleged bribe payment was sent around November 2021, the accounts were unfrozen, the indictment obtained by Reuters states.
Bankman-Fried is now facing 13 charges, including ones related to money laundering and wire fraud. His next court hearing is scheduled for Thursday.
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