Military Space News
INTERNET SPACE
US charges Sam Bankman-Fried for bribing Chinese officials
US charges Sam Bankman-Fried for bribing Chinese officials
by AFP Staff Writers
New York (AFP) March 28, 2023
US officials alleged that former FTX chief Sam Bankman-Fried authorized bribes of at least $40 million to Chinese officials, according to an updated indictment filed Tuesday.

The payments came after Chinese officials in early 2021 froze some $1 billion in cryptocurrency trading accounts controlled by FTX affiliate Alameda, according to an amended criminal indictment signed by US Attorney Damian Williams.

The move amounts to a 13th criminal charge against the former cryptocurrency highflyer, for "conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act."

Bankman-Fried has also been charged with wire fraud, conspiracy to commit money laundering as well as election finance violations.

Bankman-Fried, who has pleaded not guilty, is out on bail and living at his parent's home in California.

FTX and its sister trading house Alameda Research went bankrupt in November, dissolving a virtual trading business that at one point had been valued by the market at $32 billion.

The China case stemmed from a move by Chinese authorities to freeze Alameda accounts as part of what Bankman-Fried understood as a probe of an Alameda trading counterparty.

Bankman-Fried and associates "tried numerous methods" to regain access to the funds, including retaining attorneys and communicating with Chinese exchanges.

After months of setbacks, Bankman-Fried "ultimately agreed to and directed a multi-million-dollar bribe to seek to unfreeze the accounts," according to the indictment, adding that the accounts were unfrozen.

Related Links
Satellite-based Internet technologies

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
INTERNET SPACE
Shou Zi Chew, TikTok's low-key CEO, faces down US Congress
Singapore, Singapore (AFP) March 23, 2023
TikTok's CEO Shou Zi Chew, who will represent the Chinese company in a US congressional meeting Thursday, is a former banker turned tech boss whose soft-spoken persona belies his meteoric rise. The 40-year-old Singaporean's rapid ascent coincides with the United States and other Western governments tightening scrutiny over Chinese technology giants and their products. Thursday's hearing will represent a rare appearance under the spotlight for Chew, who has a low public profile even in his home c ... read more

INTERNET SPACE
North Korea warns US against intercepting missiles during tests

Germany to give Slovakia Mantis air defence systems

Advanced manufacturing powering development of Next Generation Interceptor

Kremlin keeps mum on missile systems seen on Moscow rooftops

INTERNET SPACE
Australia to get 220 Tomahawk missiles from US

Russia pounds Ukraine with barrage of rare hypersonic missiles

Northrop Grumman test fires stage-one solid rocket motor for Sentinel Missile

Japan to buy 400 Tomahawk missiles from US: PM Kishida

INTERNET SPACE
Russian drone attack on school kills four in Kyiv region

Drone maker Zipline unveils system for city deliveries

Taiwan unveils portable attack drone as China tensions rise

New "traffic cop" algorithm helps a drone swarm stay on task

INTERNET SPACE
Silvus Technologies unveils Spectrum Dominance

Rensselaer researcher breaks through the clouds to advance satellite communication

Space Systems Command demonstrates satellite anti-jam capability

SpaceX launches 40 more Internet satellites for competitor

INTERNET SPACE
Ukraine to receive US Abrams tanks by fall: Pentagon

EU agrees 2-billion-euro ammunition plan for Ukraine

German military has 'too little of everything'

Ukraine troops wrap up Leopard tank training in Spain

INTERNET SPACE
Biden says China 'hasn't yet' delivered arms to Russia

Slovakia offered $1bn in US arms in trade-off for Ukraine aid

NATO chief warns allies must boost defence spending

UK boosts security spending against China and Russia threats

INTERNET SPACE
Japan urges China to release citizen held in Beijing

Vatican to send Pope's message of hope high into orbit

Moscow trip seen as a win for 'big brother' Xi

'Nixon in China': an opera with fresh relevance

INTERNET SPACE
Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2026 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.