Sam Bankman-Fried paid $40m bribe to Chinese government official, indictment ... trends now
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Sam Bankman-Fried paid a $40million bribe to at least one Chinese government official to unfreeze $1billion worth of cryptocurrency, a fresh indictment today alleged.
Federal prosecutors in Manhattan charged Bankman-Fried on Tuesday with directing the payment in cryptocurrency in order to unfreeze accounts belonging to his hedge fund, Alameda Research, that Chinese authorities had frozen in November 2021. The accounts held more than $1billion of cryptocurrency, U.S. prosecutors said.
Once those assets were unfrozen, the indictment says, Bankman-Fried authorized another transfer of tens of millions of dollars of additional cryptocurrency to complete the bribe.
The 13 new international bribery charges increase the pressure on the 31-year-old former billionaire, who had previously pleaded not guilty to eight counts of defrauding investors by using their money to plug losses for Alameda.
Sam Bankman-Fried, 31, is facing fresh charges of bribing a Chinese government official
He previously pleaded not guilty to charges of defrauding investors in the collapse of FTX
According to the new
