It’s yet another jarring allegation for the former crypto mogul.
Sam Bankman-Fried allegedly directed a roughly $40 million bribe to one or more Chinese government officials to unfreeze cryptocurrency assets held in the country by his Alameda Research hedge fund, according to a newly unsealed indictment against Bankman-Fried.Bankman-Fried is charged for conspiring to violate the anti-bribery section of the U.S.
The former billionaire CEO of cryptocurrency exchange FTX now faces 13 criminal counts for illicit business practices in his one-time crypto empire, up from theBankman-Fried ordered the overseas bribe after Chinese authorities blocked access to about $1 billion in crypto assets belonging to Alameda, according to prosecutors.Key Background
The bribery charge carries a maximum prison sentence of five years, a relatively meager period compared to the 100-plus sentences associated with Bankman-Fried’s other charges. The fresh allegation against Bankman-Fried comes hours after his defense and prosecutors
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