Crypto Exchange FTX Co-Founder Sam Bankman-Freed Faces New Charges of Violating Foreign Corrupt Practices Act

U.S. prosecutors on Tuesday announced new charges against Sam Bankman-Freed as part of the prosecution of the co-founder of bankrupt cryptocurrency exchange FTX, with the new charges including violations of the Foreign Corrupt Practices Act.

According to Reuters, federal prosecutors in a Manhattan court are accusing Bankman-Freed of ordering the transfer of at least $40 million to benefit Chinese government officials.

Prosecutors are asking the judge presiding over the case to add the new charges to the indictment against the 31-year-old.

Bankman-Freed himself has pleaded not guilty to the eight previous charges brought against him in the FTX collapse.

Read Next

Previous Articles:

• Binance CEO Changping Zhao Faces CFTC Lawsuit and Tax Evasion Charges in Major Cryptocurrency Scandal
• PrimeXBT Ambassador: Affiliate Program Review 2023
• Render Network Foundation Proposes Move to Solana, Introducing New “BME” Mechanism
• Nasdaq Set to Debut Cryptocurrency Custody Services in Q2 2023
• Tether Set to Record $700 Million Profit, Exceeding $1 Billion in Excess Reserves