An additional indictment was added on Wednesday morning. The trial judge also approved new bail restrictions for Sam Bankman-Fried
FTX crypto exchange founder Sam Bankman-Fried is facing new legal troubles as U.S. prosecutors have added a bribery charge to the 12 existing charges he already faces.
Bankman-Fried, who was released on bond last year after being arrested, has been accused of fraud, conspiracy, and trying to evade U.S. campaign financing laws.
According to a superseding indictment that was shared on Tuesday, Bankman-Fried attempted to bribe one or more Chinese government officials to unfreeze Alameda Research accounts by directing and causing the transfer of at least $40 million in cryptocurrency in November 2021.
The indictment also includes an additional count for conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act.
In a letter to the trial Judge overseeing the case the grand jury returned the indictment on March 27.
“The S5 Indictment, which was unsealed this morning, includes the twelve counts contained in the S3 Superseding Indictment, as well an additional count for conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act (‘FCPA’), in violation of 18 U.S.C. § 371,” the letter said.
Bankman-Fried has yet to be arraigned on five of the 13 total charges against him, and the letter to the federal district court judge overseeing the case said that a grand jury returned the indictment on March 27. Meanwhile, U.S. District Judge Lewis Kaplan has approved changes to Bankman-Fried’s bail restrictions that focus on his use of electronic devices.
Under the new bail restrictions, Bankman-Fried is not allowed to communicate with former FTX or Alameda Research employees except when counsel is present, and he cannot use any encrypted or ephemeral call or messaging applications, including Signal.
He is also limited to using a new laptop or phone that provides access only to around 40 pre-approved websites that are necessary for his defense or are for personal use and do not pose a risk of danger to the community. These websites include major newspapers and crypto publications.
Bribery Charge For Sam Bankman-Fried
In Summary Sam Bankman-Fried, is facing a new bribery charge on top of the 12 existing charges, including fraud and conspiracy, and trying to evade U.S. campaign financing laws. Bankman-Fried attempted to bribe Chinese government officials by transferring at least $40 million in cryptocurrency to unfreeze certain accounts U.S. District Judge Lewis Kaplan has also approved changes to his bail restrictions focused on his use of electronic devices. Bankman-Fried is not allowed to communicate with former FTX or Alameda Research employees and is limited to using a new laptop or phone that provides access only to around 40 pre-approved websites.