Bankrupt Crypto Firm FTX Founder Sam Bankman-Fried Accused of Bribing Chinese Official | India is blooming

New York: Sam Bankman-Fried, who is the founder of bankrupt crypto firm FTX, is now accused of bribing a Chinese official, according to media reports.

In new charges uncovered in the US, officials accuse the contractor of authorizing a bribe of ‘at least $40m’ (£32.5m) to try to gain access to trading accounts frozen by Chinese authorities, reports the BBC.

The allegation adds to the fraud case brought against him after his business went bankrupt last year.

Bankman-Fried pleaded not guilty to those allegations earlier this year, reports the BBC.

He is currently under house arrest.

While awaiting trial, he is currently at his parents’ residence in California.

The updated indictment says Mr Bankman-Fried authorized the bribe after Chinese authorities froze accounts holding around $1bn (£811m) worth of cryptocurrency owned by his trading company, Alameda Research, the BBC reports.

The accounts were released after the transfer, which went to a private cryptocurrency wallet, according to the filing.

The alleged bribe follows months of other efforts to access the funds, which Mr Bankman-Fried said were frozen as part of an investigation into another trading company, he said. he declares.


#Bankrupt #Crypto #Firm #FTX #Founder #Sam #BankmanFried #Accused #Bribing #Chinese #Official #India #blooming #crypto

Related Articles

Back to top button