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FTX boss faces four new charges

February 24, 2023

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The former head of collapsed crypto exchange FTX has charged with four more offences.

Sam Bankman-Fried is accused of conspiring to make illegal political donations and to commit bank fraud.

Bankman-Fried has already pleaded not guilty to defrauding customers and investors, according to a report published by the BBC.

FTX filed for bankruptcy last year, leaving many users unable to withdraw their funds. There are an estimated 80,000 UK FTX customers.

Bankman-Fried now faces a total of 12 criminal charges.

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Prosecutors accused Mr Bankman-Fried of conspiring with two other former FTX executives to donate tens of millions of dollars to influence US politicians to pass laws favourable to the company.

The donations were allegedly made through “straw” donors or corporate funds, allowing Mr Bankman-Fried to evade contribution limits, prosecutors said. A trial date of 2 October has been set.

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