Per an updated indictment, Bankman-Fried allegedly employed multiple tactics to free up frozen funds belonging to Alameda Research. This includes enlisting the aid of lawyers to lift the account freezes.
Furthermore, he reportedly utilized the identities of individuals unaffiliated with FTX to bypass the restrictions imposed by Chinese authorities.
Sam Bankman-Fried Paid Over $40M To Bribe Chinese Officials
Following the failure of these approaches, Bankman-Fried allegedly directed an Alameda staff member to issue instructions for bribe payments to other workers. According to court documents, the bribe payment was over $40 million.
Meanwhile, Inner City Press, a public interest group, has criticized the prosecutors who brought the bribery charges against SBF for failing to modify Bankman-Fried’s bail release conditions. Bankman-Fried, who has pleaded not guilty to eight criminal charges, including violating campaign finance laws, wire fraud, and money laundering, is currently under house arrest.
He was released on a $250 million recognizance bond. Following the initial indictment, prosecutors filed a superseding indictment containing four extra charges.
However, Bankman-Fried has not responded to these extra charges. With the addition of the bribery charge, the total number of charges against him now stands at 13.
Meanwhile, Bankman-Fried’s legal team recently agreed with prosecutors to permit the ex-CEO to use a laptop and phone with restricted capabilities while on bail. Also, Bankman-Fried’s new laptop has monitoring software he cannot disable.
Additionally, his new phone only supports basic texting and calling.
SBF To Stand Trial On October 2nd
Furthermore, Bankman-Fried’s parents, Joseph and Barbara Fried, signed an affidavit to prevent Bankman-Fried from accessing any other gadgets in their home. They also vowed not to buy any new devices.
If there is suspicion that the former crypto executive broke the agreement, he must submit both gadgets for inspection. However, Judge Lewis Kaplan will have to greenlight the new conditions before they take effect.
Earlier, US prosecutors had voiced concerns that SBF interfered with evidence related to the criminal case against him through Signal, an encrypted messaging platform. The judge further noted that Bankman-Fried’s use of a virtual private network to stream the NFL Super Bowl implied that he might be attempting to evade government surveillance.
Meanwhile, Bankman-Fried is scheduled to stand trial on October 2nd, 2023.
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