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

Federal Prosecutors Accuse Bankman-Freed of Transferring Millions to Benefit Chinese Officials as FTX Collapse Continues to Unfold

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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.

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