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New indictment unsealed against Sam Bankman-Fried, containing 12 charges

Bankman-Fried was previously charged with eight counts of fraud, money laundering and other charges over the collapse of the now-bankrupt exchange.

February 23, 2023 / 20:11 IST
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Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange (File photo)

A new superseding indictment against FTX cryptocurrency exchange founder Sam Bankman-Fried containing 12 charges was unsealed on Thursday in Manhattan federal court.

Bankman-Fried was previously charged with eight counts of fraud, money laundering and other charges over the collapse of the now-bankrupt exchange. He has pleaded not guilty.

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"Exploiting 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," reads the new indictment, which was filed on Wednesday.

Prosecutors say Bankman-Fried used the stolen customer funds to plug losses at Alameda Research, his hedge fund. Alameda's former chief executive, Caroline Ellison, and a former FTX executive, Gary Wang, have both pleaded guilty to fraud charges and agreed to cooperate with the investigation.

Reuters
first published: Feb 23, 2023 08:10 pm

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