The Justice Department on Tuesday unveiled eight counts of conspiracy and fraud against former FTX CEO Sam Bankman-Fried, including one charge related to campaign finance law, stemming from his management of the collapsed cryptocurrency trading platform.
The unsealed criminal indictment came the morning after Bankman-Fried’s arrest Monday in the Bahamas at the request of the U.S. and on the same day he was scheduled to testify before the House Financial Services Committee about the collapse of FTX in early November.
The indictment alleges that Bankman-Fried committed fraud on customers and lenders beginning about 2019 by misappropriating money to pay expenses and debts of Alameda Research, an affiliated company. The charges also include conspiracy to commit fraud on customers and lenders, commodities and securities fraud, money laundering and to violate campaign finance laws. The U.S. attorney for the Southern District of New York brought the charges.
