Sam Bankman-Fried charged with paying $40M bribe to China

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Sam Bankman-Fried charged with paying $40M bribe to China
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Federal prosecutors added a 13th criminal charge Tuesday against embattled FTX founder Sam Bankman-Fried.A newly unsealed indictment accuses Bankman-Fried of bribing 'one or more Ch...

Federal prosecutors added a 13th criminal charge Tuesday against embattled FTX founder Sam Bankman-Fried.

The two accounts he was attempting to recover contained a combined $1 billion in cryptocurrency, according to the indictment. After multiple failed attempts to fraudulently recover the accounts, Bankman-Fried allegedly directed $40 million be transferred from Alameda's main trading account to a private cryptocurrency wallet. Around the time of the transfer, the two accounts were unfrozen and Alameda used the freshly released cryptocurrency to fund additional trades, the indictment said.

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