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​​FTX founder Sam Bankman-Fried charged with bribing Chinese government officials 

​​FTX founder Sam Bankman-Fried charged with bribing Chinese government officials 

The founder of the bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), has been charged by U.S. prosecutors with violating anti-bribery provisions of the Foreign Corrupt Practices Act.

Notably, the charges were unveiled on Tuesday, March 28, in a new indictment against Bankman-Fried, who is now facing a new suspending 13-count indictment revealed by the Southern District of New York. The founder allegedly transferred over $40 million of cryptocurrency to benefit Chinese government officials. 

The federal prosecutors in Manhattan have requested a court hearing to arraign Bankman-Fried before U.S. District Judge Lewis Kaplan. 

In particular, the court document says that Bankman-Fried “directed and caused the transfer of at least approximately $40 million in cryptocurrency intended for the benefit of one or more Chinese government officials in order to influence and induce them to unfreeze the accounts” of Alameda Research that Beijing had frozen.

What’s more, the court noted that the new charge would not change the bail conditions set for the 31-year-old.

SBF had previously pleaded not guilty

The former billionaire had previously pleaded not guilty to eight counts over the collapse of FTX. Prosecutors say SBF stole billions of dollars in customer funds to plug losses at Alameda Research, his crypto-focused hedge fund.

Elsewhere, YouTubers who promoted FTX were slapped with a $1 billion class action earlier in March. Indeed, there are several lawsuits against FTX and its promoters as investors seek compensation for the losses. 

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