Highlights

US officials: FTX chief Sam Bankman-Fried authorized bribes of at least $40 mn to Chinese officials
Bankman-Fried went bankrupt in Nov, dissolving a virtual trading business that at one point had been valued by the market at $32 bn

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US charges Sam Bankman-Fried for bribing Chinese officials

Name: US charges Sam Bankman-Fried for bribing Chinese officials
Uploaded: 2023-03-29T14:12:30.000+05:30
Duration: T00M21S
Channel: Editorji News Desk
Description: Bankman-Fried has been charged with wire fraud, conspiracy to commit money laundering as well as election finance violations

Bankman-Fried has been charged with wire fraud, conspiracy to commit money laundering as well as election finance violations

Updated: Sep 02, 2022 10:53

Editorji News Desk

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US charges Sam Bankman-Fried for bribing Chinese officials

US officials alleged that former FTX chief Sam Bankman-Fried authorized bribes of at least $40 million to Chinese officials, according to an updated indictment filed Tuesday.

The payments came after Chinese officials in early 2021 froze some $1 billion in cryptocurrency trading accounts controlled by FTX affiliate Alameda, according to an amended criminal indictment signed by US Attorney Damian Williams.

The move amounts to a 13th criminal charge against the former cryptocurrency highflyer, for 'conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act.'

Bankman-Fried has also been charged with wire fraud, conspiracy to commit money laundering as well as election finance violations.

Frequently Asked Questions

What is the nature of the charges against Sam Bankman-Fried?❯

Sam Bankman-Fried has been charged with conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act, wire fraud, conspiracy to commit money laundering, and election finance violations.

How much in bribes was Sam Bankman-Fried accused of authorizing to Chinese officials?❯

What triggered the alleged bribe payments?❯

Who filed the updated indictment against Sam Bankman-Fried?❯

What is the total number of criminal charges against Sam Bankman-Fried?❯