U.S. prosecutors slapped FTX founder Sam Bankman-Fried with a new criminal charge, alleging he bribed Chinese authorities with tens of millions of dollars in cryptocurrency after they froze accounts controlled by his personal hedge fund.
The former billionaire orchestrated the alleged bribe after Alameda was locked out of its trading accounts on two of China’s crypto exchanges in connection with an ongoing investigation.
The superseding indictment filed Tuesday morning in New York alleges that Bankman-Fried, a one-time political megadonor who’d been a key player in Washington policy circles, ordered employees at his trading firm Alameda Research to pay $40 million to a digital wallet controlled by Chinese authorities in 2021.
With the new charge alleging conspiracy to violate the Foreign Corrupt Practices Act, Bankman-Fried now faces 13 criminal counts that include securities fraud, conspiracy to commit bank fraud and conspiracy to operate an unlicensed money transmitter. His criminal trial is scheduled to begin in October.
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