Posted on

Sam Bankman-Fried paid over $40 million to bribe at least one official in China, DOJ alleges in new indictment



Share

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, arrives on the day of a hearing at Manhattan federal court in New York City, January 3, 2023.David Dee Delgado | ReutersFTX co-founder Sam Bankman-Fried paid out tens of millions of dollars worth of bribes to at least one Chinese government official, federal prosecutors alleged in a new indictment Tuesday.The indictment said accounts belonging to Bankman-Fried’s hedge fund, Alameda Research, were the target of a freezing order from Chinese police “in or around” November 2021.The indictment alleges that Bankman-Fried and others “directed and caused the transfer” of at least $40 million in cryptocurrency “intended for the benefit of one or more Chinese government officials in order to influence and induce them” to unfreeze some of these account …

Read More