Sam Bankman-Fried Charged by DOJ for Allegedly Bribing Chinese Government Officials With $40,000,000

The disgraced co-founder of collapsed crypto exchange FTX is being slapped with a whole new round of criminal charges.

According to new court documents, former crypto billionaire Sam Bankman-Fried is now being charged by the U.S. Department of Justice (DOJ) for allegedly bribing Chinese officials with tens of millions of dollars.

In a new superseding indictment submitted to the Southern District of the New York US District Court today, prosecutors representing the United States review the charges against Bankman-Fried.

“From at least in or about 2019, up to and including in or about November 2022, Samuel Bankman-Fried, a/k/a ‘SBF,’, the defendant, corrupted the operations of the cryptocurrency companies he founded and controlled – including FTX and Alameda Research – through a pattern of fraudulent schemes that victimized FTX customers, investors, financial institutions, lenders, and the Federal Election Commission.”

The prosecution alleges SBF stole customer deposits to keep his frauds afloat, make speculative investments, contribute to charities, and make himself rich. They also insinuate SBF tried to buy off American politicians before alleging SBF also tried to bribe Chinese government officials.

“He also conspired to bribe one or more Chinese government officials in order to regain access to Alameda trading accounts that had been frozen by Chinese law enforcement authorities.”

The document goes on to allege that SBF’s attempted bribery ran a price tag of at least $40,000,000.

SBF’s representatives have yet to comment on the new allegations at time of publishing.

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Featured Image: Shutterstock/Denis Starostin