BankmanFried

Former FTX CEO Sam Bankman-Fried (aka SBF) now faces a total of 13 criminal charges. , a newly unsealed indictment accuses the disgraced entrepreneur of conspiring to pay a $40 million bribe to Chinese government officials. Federal prosecutors allege Bankman-Fried ordered Alameda Research, FTX’s sister company, to transfer the funds to a private wallet, in hopes of convincing Chinese authorities to unfreeze Alameda accounts with more than $1 billion in crypto assets. It is to bribe foreign government officials in order…

Lawyers for Sam Bankman-Fried are nearing an agreement with U.S. prosecutors on revised bail conditions for the indicted FTX cryptocurrency exchange founder, who is trying to convince a skeptical judge he should remain free.In a letter filed on Friday night in Manhattan federal court, Bankman-Fried's lawyer Christian Everdell said both sides believed they were "close to a resolution", and expect to formally propose new restrictions by next week.Bankman-Fried, 31, faces a trial set for Oct. 2 on charges of stealing…

Bankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through related entities, the company's new management said. Overall more than $3.2 billion was transferred through payments and loans to company founders and key employees, FTX said in a statement on Wednesday. These payments were made chiefly from Alameda Research hedge fund, FTX said, adding that it made these disclosures by filing schedules and statements of financial affairs with the bankruptcy court. The…

A US judge is expected on Friday to consider what restrictions Sam Bankman-Fried should face while free on bail, and whether the FTX cryptocurrency exchange founder's Oct. 2 fraud trial should be pushed back.Bankman-Fried is fighting to stay out of jail after US District Judge Lewis Kaplan raised concerns last month that the 31-year-old former billionaire wunderkind was testing the limits of his $250 million bail package by communicating in ways that could not be monitored. Federal prosecutors in Manhattan have charged…

FTX founder and former CEO Sam Bankman-Fried may be stuck using a feature phone. In a letter seen by Bloomberg, prosecutors said Bankman-Fried’s lawyers had agreed to modify the terms of his bail agreement. Provided the judge overseeing the case agrees to the changes, SBF will be restricted to using a “non-smartphone” without internet connectivity. Unless a lawyer is present, he will also be forbidden from contacting current or former FTX and Alameda Research employees. The proposed restrictions came after Bankman-Fried…

FTX founder and former CEO Sam Bankman-Fried may be stuck using a dumb phone for the foreseeable future. In a letter seen by , prosecutors involved in his criminal case said Friday that Bankman-Fried’s lawyers had agreed to modify the terms of his bail agreement. Provided the judge overseeing the case agrees to the changes, SBF will be restricted to using a “non-smartphone” without internet connectivity. Unless a lawyer is present, he will also be forbidden from contacting current or former FTX and Alameda Research…

Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said.The proposal to limit the indicted FTX cryptocurrency exchange founder's communications was filed late on Friday in Manhattan federal court, on behalf of the government and Bankman-Fried's defense team.It requires approval by U.S. District Judge Lewis Kaplan, who oversees the…

A third member of FTX founder Sam Bankman-Fried’s inner circle pleaded guilty to fraud charges and agreed to assist federal prosecutors, expanding the pool of cooperating witnesses against the former head of the failed crypto exchange. Nishad Singh, the company’s former director of engineering, pleaded guilty to six criminal counts, including conspiring to commit securities and commodities fraud, during a hearing Tuesday in federal court in Manhattan.  “I’m…

FTX founder Sam Bankman-Fried faced new fraud charges Thursday, as prosecutors accused him of cheating thousands of investors out of billions of dollars while casting himself as a trustworthy "savior of the cryptocurrency industry" - an image boosted by celebrity-studded Super Bowl advertising and big donations to political figures.New charges, including securities fraud and conspiracy fraud counts, were unveiled with the unsealing of the refreshed indictment in Manhattan federal court.In a statement, U.S. Attorney Damian…

Disgraced cryptocurrency executive Sam Bankman-Fried secretly spread his political influence by “steering tens of millions of dollars of illegal campaign contributions to both Democrats and Republicans,” federal prosecutors alleged in a new indictment of Bankman-Fried filed Thursday. Bankman-Fried took credit for more than $38 million in publicly disclosed campaign donations in the 2022 election cycle. But, prosecutors say, he hatched a “scheme” in which millions more in company money would be given to yet more…