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Posts tagged as “the Southern District Court”

Sam Bankman-Fried Faces 13th Criminal Count of Bribery in Connection with Collapse of FTX Cryptocurrency Firm

Sam Bankman-Fried, co-founder of the now-defunct cryptocurrency firm FTX, has been charged with a 13th criminal count of bribery by federal prosecutors. The new indictment accuses Bankman-Fried of bribing “one or more” Chinese government officials with $40 million in 2021 in an effort to unfreeze accounts belonging to his hedge fund. Bankman-Fried has already pleaded not guilty to eight criminal counts of fraud and conspiracy, and faces up to 20 years in prison if convicted. The case is being closely watched by the cryptocurrency industry as Bankman-Fried was one of its most prominent figures prior to his arrest.