FTX’s Sam Bankman-Fried Faces 8 Criminal Charges

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US federal prosecutors in New York have charged former FTX CEO Sam Bankman-Fried with eight criminal charges, including fraud for allegedly using FTX funds to support his crypto hedge fund Alameda Research. 

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In charges unsealed Tuesday morning, a grand jury indictment laid out the eight accusations against Bankman-Fried, alleging he directed FTX customer funds to “pay expenses and debts of Alameda Research.” 

Here is a list of the charges in the indictment: 

  • Conspiracy to commit wire fraud on customers
  • Wire fraud on customers 
  • Conspiracy to commit wire fraud on lenders 
  • Wire fraud on lenders 
  • Conspiracy to commit commodities fraud
  • Conspiracy to commit securities fraud 
  • Conspiracy to commit money laundering
  • Conspiracy to defraud the United States and violate the campaign finance laws

Prosecutors accused Bankman-Fried of intentionally securing funds “by means of false and fraudulent pretenses, representations and promises,” and alleged his victims were lenders and FTX customers.