Sam Bankman Fried Is Accused of Bribing Chinese Officials With $40M Dollars

Published: 4/8/2023
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In recent court filings (filed on 3/28/23), FTX Founder Sam Bankman Fried (SBF) was accused of bribing chinese government officials with $40M USD in an effort to unfreeze Alameda Research Cryptocurrency trading accounts from two of China’s largest cryptocurrency exchanges which collectively contained approximately $1 billion worth of cryptocurrency.

SBF, the defendant, discussed with others and ultimately agreed to and directed a multi-million-dollar bribe to seek to unfreeze the Accounts. In particular, Bankman-Fried authorized and directed the illicit transfer of cryptocurrency inteded to induce and influence one or more Chinese government officials to unfreeze the Accounts. … As a result, in or about November 2021, Bankman-Fried caused a bribe payment of cryptocurrency then worth approximately $40 million to be transferred from Alameda’s main traiding account to a private cryptocurrency wallet. After confirmation that the Accounts were unfrozen, Bankman-Fried authorized the transfer of additional tens of millions of dollars in cryptocurrency to complete the bribe.

Links to Evidence

• Archived Indictment (PDF)

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Published: 4/8/2023
jrpm.me/0NtYLP