Sam Bankman-Fried Hit With 4 New Criminal Charges

  • Sam Bankman-Fried was indicted on four additional criminal charges.
  • An indictment unsealed in Manhattan federal court earlier today revealed the new charges against the former FTX CEO.
  • The new indictment includes eight counts of conspiracy and four counts of fraud.
  • Bankman-Fried’s questionable political contributions have been highlighted in the new indictment.

Sam Bankman-Fried faces additional charges for crimes he committed during his tenure at Bahamas-based crypto exchange FTX. The new charges against Bankman-Fried came to light earlier today when an indictment was unsealed in the US District Court for the Southern District of New York.

Sam Bankman-Fried allegedly violated federal campaign finance laws

According to the 39-page indictment, unsealed in Manhattan federal court earlier today, Sam Bankman-Fried faces four counts of fraud, including conspiracy to commit cellphone fraud, wire fraud, fraud and conspiracy to defraud FTX customers in connection with derivatives trading, conspiracy to commit securities fraud, conspiracy to commit bank fraud, among others.

The indictment also included charges related to wrongdoing at Bankman-Fried’s Alameda Research quantitative trading firm, namely conspiracy to commit bank fraud and wire fraud to Alameda Lenders. The grand jury also charged the disgraced CEO with conspiracy to operate an unlicensed money transmission business and conspiracy to launder money.

Sam Bankman-Fried’s political donations were also called into question in the latest indictment. According to the document, SBF and its associates made over 300 political contributions worth tens of millions of dollars that have been ruled illegal. Data from shows that SBF personally donated nearly $40 million. The indictment alleged that SBF used straw donors to avoid campaign contribution limits on individual donations to political candidates. To that end, the grand jury has indicted him for conspiracy to make illegal political contributions and defrauding the Federal Election Commission (FEC).

“SBF and others defrauded and defrauded the United States, and an agency thereof, by damaging, obstructing, and defeating the lawful operations of a department and agency of the United States by fraudulent and dishonest means, for example, the operation of the Federal Election Commission is administered by federal law regarding source and amount limitations on federal elections,” the indictment said.

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