Sam Bankman-Fried was charged with bribing Chinese officials, adding a new dimension to the U.S. government’s case against the FTX co-founder.
The new charge was unsealed Tuesday in a revised indictment by federal prosecutors in Manhattan. Bankman-Fried is accused of authorizing the payment of $40 million to one or more Chinese government officials in order to get them to unfreeze accounts at Alameda Research, a Hong Kong-based trading firm affiliated with FTX, holding more than $1 billion in cryptocurrency.
Prosecutors allege Bankman-Fried and others sought to regain access to the assets held in Alameda accounts in 2021 to fund additional trading activity, according to the indictment.
A spokesman for Bankman-Fried didn’t immediately respond to a request for comment.