Storm around Sam Bankman-Fried: the story gets murky!

Mark Cohen, the attorney representing Bankman-Fried in the criminal case, said that while SBF has pleaded not guilty

by Lorenzo Ciotti
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Storm around Sam Bankman-Fried: the story gets murky!

Mark Cohen, the attorney representing Bankman-Fried in the criminal case, said that while SBF has pleaded not guilty, he does not recognize the new charges brought against him. The latest complaint alleges that SBF was involved in the transfer of approximately $40 million in cryptocurrency for the benefit of one or more Chinese government officials to facilitate Alameda Research-related transactions.

Meanwhile, the US judges have filed new charges against the FTX founder, adding a thirteenth count over an alleged bribe paid to Chinese officials. The indictment would see Bankman-Fried authorize and direct a bribe of at least $40 million to one or more Chinese officials, with the aim of influencing them to unfreeze accounts belonging to Alameda Research.

The collapse of FTX, to date, exposed SBF's plans to redirect CEX client funds to Alameda for its own business purposes, and subsequently all attempts to influence policy through lobbying efforts were also exposed. and donations.

And as it turns out, these weren't limited to the United States and the Bahamas.
The fact would have occurred around 2021, the same period in which China introduced the ban on cryptocurrencies. Alameda Research, founded in 2017, saw its operations relocate to Hong Kong in early 2019, before moving to the Bahamas in late 2021.

Bankman-Fried denies corruption allegations. SBF's attorneys have entered a not guilty plea on five other counts that emerged following the December 2022 hearing, including bribery charges. Bankman-Fried has been free on bail since he was released from the Bahamas into US custody in December, while remaining largely confined to his parents' California home.

A federal judge recently changed the conditions of his bail by banning the use of any smartphone with Internet access. FTX's bankruptcy proceedings are also currently pending in the District of Delaware. According to multiple sources, Bankman-Fried pleaded not guilty in the United States District Court for the Southern District of New York to four additional charges as part of a supplemental indictment filed in February, and one additional charge on March 28, relating to the alleged bribery of a Chinese government official. Other charges include conspiracy to commit fraud, wire fraud and security fraud while he was with FTX.

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