Feds: FTX Crypto Mogul Paid $40M Bribe To Chinese

March 28, 2023 Business, Crime

U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of now-bankrupt FTX cryptocurrency exchange of conspiring to pay a $40 million bribe to Chinese government officials.

The new bribery conspiracy charge adds the pressure on the 31-year-old former billionaire, who now faces a 13-count indictment over the November collapse of FTX.

Prosecutors had previously accused Bankman-Fried of stealing billions of dollars in customer funds to plug losses at his Alameda Research hedge fund, and orchestrating an illegal campaign donation scheme to buy influence in Washington, D.C.

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#BREAKING: FTX’s Bankman-Fried charged with bribing Chinese officials with $40 million.

FTX’s Bankman-Fried is being indicted with bribery conspiracy charges in new indictment

The additional charge does not change the government’s position with respect to Bankman-Fried’s bail… pic.twitter.com/TW02KbKauo

— Mario Nawfal (@MarioNawfal) March 28, 2023