By Charlie Conchie
Sam Bankman-Fried has been hit by a slew of further charges from US prosecutors today including wire fraud, conspiracy to commit money laundering and campaign finance violations, according to reports.
The fresh charges follow claims of fraud from US regulators earlier today that the disgraced former billionaire misled investors and pumped customers’ cash into specialitive bets via his trading firm Alameda Research.
The SEC said in a court filing revealed earlier today that Bankman-Fried orchestrated a “years-long fraud” to conceal the diversion of FTX customers’ funds to Alameda.
Prosecutors have now charged ‘SBF’ with a litany of further charges, consisting of conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to defraud the U.S. and violate campaign finance laws, the BBC reported today.
According to the DOJ indictment as reported by Coindesk, Bankman-Fried “agreed with others to defraud customers of FTX.com by misappropriating those customers’ deposits and using those deposits to pay expenses and debts of Alameda Research, Bankman-Fried’s proprietary crypto hedge fund, and to make investments.”
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