Sam Bankman-Fried, founder and former CEO of FTX, has been accused of bribing one or more Chinese officials to freeze hedge fund accounts. In this respect reported Hit the lining.
“The New York attorney general’s office accused the entrepreneur of embezzling client funds. Previously, he was on trial for 12 separate crimes. For this, the businessman faces up to 155 years in prison. Denying the allegations, Bankman-Fried was released on $250 million bail and his trial was adjourned until October.
On February 24, the US Attorney’s Office filed formal charges against Bankman-Freed. He is charged with 12 criminal acts, including fraud and forming a criminal community. Prosecutors said Bankman-Fried collaborated with two other former FTX executives to donate tens of millions of dollars to powerful congressmen. This was done for congressmen to pass laws in favor of the company. According to prosecutors, donations were illegal because they were made with corporate funds, which often made it possible to exceed contribution limits. As a result, Bankman-Fried became one of the Democratic Party’s biggest campaign donors in the 2022 midterm elections.
The former head of FTX was detained in Fox Hill Prison after being arrested in the Bahamas on December 12, 2022, reported RBC. On the 21st, he was extradited to the United States under FBI protection. On December 21, it was learned that two other presidents of bankrupt companies from the FTX group, Caroline Ellison, former president of Alameda, and Gary Wang, FTX co-founder, pleaded guilty and cooperated in the investigation. Details of their collaboration were kept secret until Bankman-Freed left the Bahamas, according to court documents filed on December 22.
Source: Gazeta
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