Sam Bankman-Fried bribed Chinese officials with $ 40 million, the Doj claims

Sam Bankman-Fried bribed Chinese officials with $ 40 million, the Doj claims

Former FTX boss Sam Bankman-Fried (SBF) was confronted with another lawsuit by the Ministry of Justice (DOJ) because he had sent bribes to Chinese government officials

The department claims that the bribery value of $ 40 million should cause the government to release accounts associated with the sister trade company from FTX, Alameda Research.

SBF bribery Chinas

In an updated, replacement indictment that was shared on Tuesday, the Doj claimed that SBF "ordered and initiated and initiated the transfer of at least $ 40 million" to release Alameda's accounts in favor of "one or more Chinese Government officer ”.

This comes to 12 previous allegations from the department against Bankman-Fried, including transfer fraud, goods fraud and others.

According to the acts, the accounts of Alameda were frozen by the Chinese police "in or around November 2021" and contained crypto of over $ 1 billion. CNBC said that prosecutors tried "numerous methods" to release them only to use bribes after all other options were exhausted.

After the company had released these funds again, she supposedly used it to continue to act with loss at Alameda Research. Alameda is generally assumed misused FTX customer money for trade and lose assets in billions in billions.

Although Bankman-Fried denied all the allegations of fraud, many of his senior employees-including the former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang-did this .

Nishad Singh, technical manager of ftx joined ellison and later also gave violations of money laundering and campaign financing. He and SBF are said to have conspired to make illegal donations of several ten million dollars in political candidates in a straw donor program in which over 300 individual donations were involved.

Bankman-Frieds political business

The political connections from SBF are no secret: The former manager regularly appeared on the Capitol Hill to hold meetings with the Sec chairman Gary Gensler, and it was also reported that he was traveling with the former CFTC chairman Mark Wetjen.

CME boss Terry Duffy said in November that the congress of his criticism of Bankman-Fried, who was one of the cms, seemed to be hostile Democratic Party biggue. SBF claimed that although his political donations were great, he used "dark money" to send an approximately the same amount to Republican candidates.

The Republican congress member Tom Emmer claimed in December that Bankman-Fried has disappeared with a regulatory monopoly in stock sector to accomplish.

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