![]() ![]() Two of his top lieutenants, Gary Wang and Caroline Ellison, have pleaded guilty to numerous charges and are cooperating with investigators. He now faces a maximum of 155 years in prison, if convicted on all counts. Yuki Iwamura/AFP/Getty Imagesīankman-Fried lawyers say they will pay for technical expert to aid judge on bail termsīankman-Fried will be arraigned on the new charges at a future date. At the time he was charged with multiple counts of conspiracy, wire fraud and conspiring to violate US campaign finance laws by making illegal political donations.įormer FTX chief executive Samuel Bankman-Fried (L) leaves Manhattan Federal Court after his bail conditions hearing in New York City on February 9, 2023. home, pleaded not guilty to the charges announced in December. “The defendant, well knew FTX – which by early 2022 claimed to handle approximately $15 billion in daily trading volume on its platforms – was not focused on investor or client protection, nor was it the legitimate business that Bankman-Fried claimed it was,” the indictment alleges.īankman-Fried, who is released on a $250 million bond and under home confinement at his parent’s Palo Alto, Calif. Prosecutors say Bankman-Fried raised at least $1.8 billion from investors. Prosecutors alleged Bankman-Fried and others misused customer accounts at the trading platform FTX to bolster sister hedge fund Alameda Research’s business operations, enrich himself, make venture investments, and try to buy influence with US politicians. Thursday’s 12-count indictment added four new charges, including conspiracy to operate an unlicensed money transmitting business, conspiracy to commit bank fraud, securities fraud, and fraud in the connection of the purpose or sale of a derivative. “We are hard at work and will remain so until justice is done,” said Damian Williams, the US attorney for the Southern District of New York, whose office is investigating the collapse of FTX.īankman-Fried was charged in December in an eight-count indictment. The new charges, unsealed in a superseding indictment on Thursday, add to the already serious charges facing the so-called Crypto King. Federal prosecutors announced four new criminal charges against Sam Bankman-Fried, the founder of crypto trading platform FTX, expanding his potential liability in what authorities allege is a billion-dollar fraud. ![]()
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