SBF Charged with Additional Crimes

Federal prosecutors charged former FTX CEO Sam Bankman-Fried with financial crimes in addition to the eight that were filed in December. The U.S. attorney’s office in Manhattan, which filed the new charges, alleges that Bankman-Fried conspired to commit bank fraud and operate an unlicensed money-transmitting business. He also faces new securities and commodities fraud counts. The indictment provided a comprehensive account of Mr. Bankman-Fried’s alleged conduct and provided new details about his alleged effort to skirt campaign-finance laws and court influence with politicians of both parties through an unlawful donation scheme. Prosecutors allege that as the exchange collapsed last November, Bankman-Fried lied in a bid to prevent a run on the exchange, saying it was heavily regulated and had sufficient assets.