Business Maverick: Bankman-Fried Charged With 4 New Counts in FTX Criminal Case

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New charges were unsealed against Sam Bankman-Fried, accused of fraud in last year’s implosion of the FTX cryptocurrency exchange.

A 39-page superseding indictment was unsealed on Thursday adding four new counts against the FTX co-founder and recasting the earlier, 14-page charging papers. Such new indictments can also be used to add a defendant to a case, but no new defendant was named in the revised document.The new indictment cites co-conspirators, without naming them, as well as bank fraud charges, violations of law in money-transmitting operations and demands for the forfeiture of assets.

Bankman-Fried was charged in December with eight criminal counts, including conspiracy and wire fraud, for allegedly misusing billions of dollars in customers’ funds before the spectacular collapse of his cryptocurrency empire. That indictment followed weeks of speculation the 30-year-old would end up in handcuffs after his company — one of the biggest cryptocurrency exchanges in the world — ended up in bankruptcy.

 

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