FTX Founder Sam Bankman-Fried Faces Bribery Charge

On Tuesday, U.S. prosecutors unsealed a new indictment against FTX founder Sam Bankman-Fried (aks SBF), adding a new bribery charge on top of the previous twelve charges.

Bankman-Fried was arrested in the Bahamas last year. He has been released on bail and is residing at his parents' home in California. He now faces charges including fraud, conspiracy and attempting to evade U.S. campaign finance laws.

According to the indictment, Bankman-Fried is accused of attempting to bribe one or more Chinese officials to unfreeze certain accounts. "In or about November 2021, Samuel Bankman-Fried, a/k/a 'SBF,' the defendant, and others directed and caused the transfer of at least approximately $40 million in cryptocurrency intended for the benefit of one or more Chinese officials in order to influence and induce them to unfreeze the Accounts."

On Tuesday, U.S. District Judge Lewis Kaplan also granted new bail conditions against Bankman-Fried, focusing primarily on restrictions on the use of electronic devices.

Bankman-Fried can only use a new laptop or phone to access about 40 websites. The pre-approved websites are necessary for the defense or are for personal use and “do not pose a risk of danger to the community,” including major newspapers and cryptocurrency publications.

Bankman-Fried may not have communications with former FTX or Alameda Research employees in the FTX trading division unless an attorney is present.

Bankman-Fried's new laptop will include software that blocks access to the USB storage device, preventing him from transferring data to it. He will also be restricted from making voice calls and SMS text messages on his new phone. As for his old devices, they will be handed over to his attorney to be taken away from his home.

Bankman-Fried is required to arrange meetings with visitors in advance by defense attorneys who will ensure that a security guard is present at the meeting to check with a handheld metal detector for unauthorized electronic devices.