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

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

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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.

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