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FTX founder Sam Bankman-Fried hit with four new criminal charges



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FTX co-founder Sam Bankman-Fried was hit Thursday with four new criminal charges, including ones related to commodity fraud and making unlawful political contributions, in a superseding indictment filed in New York federal court.A source familiar with the new counts said that SBF, as he is popularly known, could face an additional 40 years in prison if convicted in the case, where he is accused of “multiple schemes to defraud.”The new charging document lays out in greater detail Bankman-Fried’s allegedly fraudulent conduct related to his cryptocurrency exchange FTX and an associated hedge fund, Alameda Research, both of which went bust in late 2022.The 12-count indictment also provides new details of hundreds of political donations that Bankman-Fried allegedly directed in violation of federal campaign finance laws.Bankman-Fried is accused of stealing FTX customer deposits and using billions of dollars of those stolen funds to support FTX’s and Alameda’s operations and investments, to fund speculative investments, to make charitable contributions, and to enrich himself, the indictment notes.He also tried “to purchase influence over cryptocurrency regulation in Washington, D.C., by steering tens of millions of dollars in illegal campaign contributions to both Democrats and Republicans,” according to the new indictment, which was was unsealed in U.S. District Court in Manhattan. Before the criminal case, SBF was known as major donor to Democrats.Bankman-Fried, who remains free on a $250 million personal recognizance bond after being first charged in late 2022, has pleaded not guilty in the case.The new indictment adds yet more legal pressure on SBF, whose close associates, FTX co-founder Gary Wang and ex-Alameda CEO Caroline Ellison, pleaded guilty in December to multiple fraud and other charges. Both Wang and Ellis …

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