{"id":18008,"date":"2023-02-23T15:18:45","date_gmt":"2023-02-23T15:18:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/former-ftx-ceo-sam-bankman-fried-faces-new-charges-in-multi-billion-dollar-fraud-case-bitcoin-news\/"},"modified":"2023-02-23T15:18:45","modified_gmt":"2023-02-23T15:18:45","slug":"former-ftx-ceo-sam-bankman-fried-faces-new-charges-in-multi-billion-dollar-fraud-case-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/former-ftx-ceo-sam-bankman-fried-faces-new-charges-in-multi-billion-dollar-fraud-case-bitcoin-news\/","title":{"rendered":"Former FTX CEO Sam Bankman-Fried Faces New Charges in Multi-Billion Dollar Fraud Case \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud.<\/strong><\/p>\n

SBF Gets 4 New Charges Tacked Onto His Indictment<\/h2>\n

The former CEO of FTX was originally indicted<\/a> 72 days ago by a federal grand jury in Manhattan, and prosecutors charged the crypto exchange co-founder with eight different offenses. The charges include conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering.<\/p>\n

A new indictment was unsealed by the court on February 22, 2023, adding four new charges to SBF\u2019s case. The charges include operating an unlicensed money transmitter and conspiracy to commit bank fraud. \u201cExploiting the trust that FTX customers placed in him and his exchange, Bankman-Fried stole FTX customer deposits and used billions of dollars in stolen funds for a variety of purposes,\u201d the new indictment<\/a> reads.<\/p>\n

The newly revised indictment did not name any other defendants, and it alleges that SBF \u201ccorrupted the operations of the cryptocurrency companies he founded and controlled\u2014including FTX.com and Alameda Research.\u201d The revised indictment further adds that SBF \u201cperpetrated this multibillion-dollar fraud through a series of systems and schemes that allowed him, through Alameda, to access and steal FTX customer deposits without detection.\u201d<\/p>\n

In addition to operating an unlicensed money transfer business and bank fraud, SBF is accused of defrauding customers in connection with the purchase and sale of derivatives. Furthermore, SBF faces a charge of making unlawful political contributions and defrauding the Federal Election Commission.<\/p>\n

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\nTags in this story
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Alameda Research<\/a>, Bank Fraud<\/a>, Charges<\/a>, co-founder<\/a>, commodities fraud<\/a>, Corruption<\/a>, Cryptocurrency<\/a>, Customers<\/a>, customers’ deposits<\/a>, derivatives<\/a>, detection<\/a>, Federal Election Commission<\/a>, federal grand jury<\/a>, Fraud<\/a>, ftx<\/a>, indictment<\/a>, industry<\/a>, Money Laundering<\/a>, money transfer<\/a>, multibillion-dollar<\/a>, new charges<\/a>, new indictment<\/a>, operations<\/a>, Regulation<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, schemes<\/a>, securities fraud<\/a>, Stolen funds<\/a>, systems<\/a>, trust<\/a>, unlawful contributions<\/a>, Wire Fraud<\/a><\/div>\n<\/div>\n

What impact do you think these new charges will have on SBF\u2019s case? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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