The U.S. Department of Justice has released an updated indictment alleging that Sam Bankman-Fried transferred approximately $40 million in crypto assets to one or more Chinese officials to unlock Alameda Research accounts.
The agency included this count in addition to the previous counts relating to wire fraud, money laundering conspiracy, and commodity and securities fraud.
According to the document, Alameda’s accounts were frozen by Chinese police in November 2021. They held more than $1 billion in cryptocurrencies. After securing these funds, the company allegedly used them to continue losing trades at Alameda Research.
Although Bankman-Fried denied the prosecution’s allegations, former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to fraud. In February, FTX CTO Nishad Singh also pleaded guilty to money laundering through political campaign financing.
Last month, FTX management demanded that American politicians return charitable donations previously received from the exchange.
Source: Bits
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