Sam Bankman-Fried is Accused of Paying $40 Million to a Chinese Official

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Sam Bankman-Fried (SBF), the founder of failed crypto exchange FTX, has been accused of paying a $40 million bribe to at least one Chinese official, according to court documents.

This has raised the number of crimes he is charged with to thirteen. US Attorney’s Office alleges that SBF was attempting to unfreeze certain accounts of Alameda Research.

They claim he “agreed to pay cryptocurrency to one or more officials in China to influence them to unfreeze accounts” after Chinese law enforcement authorities had blocked the company’s accounts on two of the country’s largest cryptocurrency exchanges in early 2021.

It is unclear which exchanges were blocked. Later that year, China implemented stricter regulations on the crypto industry.

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