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.
"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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!