The US Justice Department has charged former FTX CEO Sam Bankman-Fried with 4 new fees, bringing the complete to twelve.
On the evening of February 23 (Vietnam time), the US Justice Department announced more criminal fees, forcing former FTX CEO Sam Bankman-Fried to include 4 new fees, which includes:
- Bank fraud
- Operating an unlicensed cash transfer organization
- Violation of the guidelines on the mobilization of political donations
- Conspiracy to make unlawful political donations.
Investigators allege that Sam Bankman-Fried and his co-conspirators in the financial institution account opening course of action “false statements to the partner financial institution that the account was allegedly being used for transactional and marketing purposes,” when the main use is to make circulate purchaser deposits.
The former FTX CEO and the exchange’s operators also make political donations to candidates and committees in New York state government, but applying other people’s names. The motive behind the action is to conquer the barrier of personalized assistance for a political candidate or organization.
FTX-Alameda’s books demonstrate political donations of up to $one hundred million, but federal government statistics record no FTX-linked payments. An independent statistic of CoinDesk confirmed that FTX sent cash to a third of the complete 536 US Congressmen who attended the final Congress.
The Justice Department also charged Sam Bankman-Fried with embezzling hundreds of hundreds of thousands of bucks in FTX users’ money. Part of that sum was utilised to acquire Robinhood stock, but was confiscated by the United States in the former FTX CEO’s $700 million fortune. The indictment is also asking the court to grant clearance to freeze the remaining $140 million in money held in US banking institutions in the identify of FTX Digital Markets – a subsidiary of FTX in the Bahamas.
Previously, in mid-December 2022, the US Justice Department issued a selection to arrest Sam Bankman-Fried for the flash crash of cryptocurrency exchange FTX one month earlier, on eight fees:
- Criminal conspiracy to defraud customers’ deposits
- Fraudulent purchaser deposits
- Criminal conspiracy to defraud the creditor’s cash
- Fraudulent creditor cash
- Criminal conspiracy aimed at asset fraud
- Securities fraud conspiracy
- Criminal conspiracy aimed at cash laundering
- Conspiracy to defraud America and violate economic present laws.
Sam Bankman-Fried in January 2023 pleaded not guilty and accepted the legal battle. This controversial figure also utilized for bail with a bail worth of up to $250 million and was authorized by the court, but lately he repeatedly violated the Internet use laws and was booked by the court. The trial of the former CEO of FTX will get spot in October 2023.
In addition to the US Justice Department indictment, Sam Bankman-Fried also faces civil lawsuits from the Securities and Exchange Commission (SEC) and the Futures Trading Commission (CFTC). , Department of Justice.
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