FTX Founder Bankman-Fried Bribed Chinese Officials With $40 Million in Crypto: DOJ

FTX Founder Bankman-Fried Bribed Chinese Officials With $40 Million in Crypto: DOJ
Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, arrives at the Manhattan federal court in New York on Feb. 16, 2023. Eduardo Munoz/Reuters
Andrew Moran
Updated:
0:00
Sam Bankman-Fried, the disgraced co-founder of cryptocurrency exchange FTX, bribed Chinese government officials with $40 million in cryptocurrency, the Department of Justice alleges in a new 13-count indictment (pdf).

Federal prosecutors stated that accounts belonging to Bankman-Fried and others “directed and caused the transfer” of at least $40 million in crypto “intended for the benefit of one or more Chinese government officials in order to influence and induce them” to unfreeze some of the accounts.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
Related Topics