Ex-FTX CEO Accused of Bribing Chinese Officials for $40 Million

Ex-FTX CEO Accused of Bribing Chinese Officials for $40 Million

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Author: Robert Strickland (crypto expert)
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Ex-FTX CEO Accused of Bribing Chinese Officials for $40 Million
Sam Bankman-Fried has been charged with 13 new counts, which include bribing Chinese officials to unblock more than $1 billion worth of Alameda cryptocurrency accounts

Former FTX chief Sam Bankman-Fried has been accused of arranging at least $40 million in bribes to Chinese officials, Reuters reports. The U.S. Attorney's Office has filed new charges against him on 13 counts that include conspiracy to violate anti-corruption laws.

Prosecutors allege that Bankman-Fried bribed them to assist in unblocking the accounts of Alameda Research, which had previously been frozen by Chinese authorities. According to court documents, those accounts held more than $1 billion in cryptocurrency.

Bankman-Fried previously pleaded not guilty to fraud as FTX executive.

 

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