Federal Prosecutors Reveal Fresh Charges Against FTX Founder Sam Bankman-Fried, Shedding Light on the Extent of His Alleged Crimes
Summary:
Federal prosecutors have unsealed new charges in an indictment against Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX. Alongside the existing charges of wire fraud and money laundering, Bankman-Fried now faces four additional charges related to his involvement with FTX and its affiliated companies. The indictment alleges that Bankman-Fried deployed colleagues to make donations on his behalf in order to gain influence without public scrutiny, potentially placing pressure on recipients to return those contributions. Prosecutors also detailed how Bankman-Fried allegedly commingled customer funds with personal use, leading to FTX's collapse. The founder has pleaded not guilty to all charges and remains under house arrest.