Sam Bankman-Fried, founder and former CEO of cryptocurrency exchange platform FTX, was indicted for four new charges, including that of trying to organize a banking scam and operating a money transfer business without the necessary authorizations. Bankman-Fried, who is 30 and an American, was arrested last December and indicted by federal prosecutors on various charges, including those of having defrauded his investors, wire fraud, money laundering and conspiracy to commit fraud . Currently the counts of accusation for which he is indicted are twelve: after his arrest he had pleaded not guilty.
The case of Bankman-Fried and FTX was one of the biggest scandals ever in the cryptocurrency sector: it led to the bankruptcy of the company and then to the arrest of its founder, who at the time of the arrest was living in the Bahamas, where he was based the company. In particular, Bankman-Fried was accused of using money deposited by FTX clients to finance his separate business (Alameda Research, which deals with financial trading), with the aim of making generous political donations and large real estate purchases private individuals, thus losing about eight billion dollars of investments and the savings of thousands of people.
– Read also: The fraud allegations against cryptocurrency entrepreneur Sam Bankman-Fried