FTX Founder Bankman-Fried Charged With Bribing Chinese Officials

FTX Founder Sam Bankman-Fried was charged with conspiring to bribe Chinese government officials with at least $40 million in cryptocurrency. The new indictment alleges that in November 2021 authorized $40 million in cryptocurrency for bribing Chinese government officials. The country's law enforcement had frozen $1 billion in cryptocurrency as part of a continuing investigation into a party that traded with his crypto-investment firm, Alameda Research. The indictment alleges that after failed attempts to regain control of the accounts Bankman-Fried authorized two payments for tens of millions of dollars. The latest indictment adds one additional count, for conspiracy to violate the Foreign Corrupt Practices Act, to the 12 charges that Mr. Bankman-Fried already faces.