New Charges Against Disgraced FTX CEO Sam Bankman-Fried Revealed

Ex-CEO of FTX Sam Bankman-Fried There are four additional charges for the disgraced entrepreneur. fraudulent cryptocurrency empire.

Several Bankman-Fried-controlled companies filed for bankruptcy last year. Customers and investors discovered that FTX had improperly commingled financial funds with Alameda Research, a sister trading firm. A superseding Indictment Four new charges were added to the eight Bankman-Fried charges. They include conspiracy to commit bank fraud, and conspiracy to run an unlicensed money transfer company.

The document states that the former business leader was named in the document. “falsely represented” His intention to open a banking account and receive customer funds for trading and market making. “an unlicensed money transmitting business affecting interstate and foreign commerce.” Indictment stated that Bankman-Fried attempted to “purchase influence over cryptocurrency regulation” At the federal level “steering tens of millions of dollars of illegal campaign contributions to both Democrats and Republicans.”

Bankman-Fried was once Charged Conspiracy to commit wire fraud, conspiracy, securities fraud, or conspiracy to defraud Federal Election Commission by campaign finance violations

The indictment, which was not sealed on Thursday, also stated that certain political contributions were included. “made in the names of others in order to obscure the true source of the money and evade federal election law.” Bankman-Fried donated $39 Million primarily to Democratic nominees, and political action commissions in advance of the 2022 midterm election. After becoming the second-largest contributor for the Biden campaign during the 2020 cycle, he was granted four. Meetings in the White House, with senior advisers, months before his companies filed bankruptcy.

Bankman Friedel isn’t content to use customer funds for his own personal gain. He also uses the money to buy luxury real property in the Bahamas and to influence the political system. Donated Through a non-profit organization called Building a Stronger Future that he co-founded with his brother Gabe Bankman Fried, a former Democratic congressional staffer who was also the director of Guarding Against Pandemics, millions were distributed to media outlets. In the days that followed his collapse, Bankman Fried was covered by a variety of media outlets. The New York Times included one. Article The alleged fraudster was only a victim of fraud. “ambitions” That “exceeded his grasp.”

Bankman-Fried is currently at his parents’ home in northern California. Mark Cohen is a Bankman-Fried lawyer who has previously Reputable Ghislaine Minwell, Jeffrey Epstein confidant, initially succeeded in asking that the identities of two people who secured the bond not be revealed. However, court documents last week revealed that Larry Kramer, the dean Stanford Law School president emeritus and Andreas Paepcke, senior research fellow Scientist The bond was secured by two Stanford University students.

The bonds were for $500,000 and $200,000 respectively, and Joseph Bankman, and Barbara Fried, former Stanford Law School professors, signed them both. Secure The bond comes with equity in the home. Bankman-Fried claimed his multibillion dollar fortune disappeared after FTX collapsed. However, bail was denied to him initially due to the substantial flight risk he posed.