The indictment prepared against the FTX founder SBF got unsealed on the 13^th of December 2022. The 14-page-long document, in which eight counts are contained, has been inked by Damian Williams (US Attorney for New York). The charges mentioned in the indictment against SBF of Alameda take into account the conspiracy to wire fraud with clients.

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The Indictment against Sam Bankman-Fried Is Unsealed, Contains Serious Charges

The other charges comprise the conspiracy to perform commodities fraud, the conspiracy to do money laundering, as well as a conspiracy to cheat on the US and infringe the laws related to campaign finance. Damian Williams shared this in a Twitter post on his official account. As a consequence of the initial 4 counts, Bankman-Fried is ordered to pay for any and entire (including personal and real) property comprising of or derived from the gains related to the offences.

If the respective thing is not possible the US will country will pursue the forfeiture of the defendant’s other property equaling the value of the respective forfeitable property. The indictment only names Bankman-Fried, though it additionally cites the persons unknown and known. In this way, the indictment collects the charges dealing with the activities of FTX crypto exchange as well as the Alameda Research in addition to the political activities of Bankman Fried.

The charges mentioned under the 8^th count deal with the infringement of laws related to contributions, hindering the functions of the Federal Election Commission, and using others’ names for making contributions. They also contain the contributions by institutions banned to do this according to federal law. On the 12^th of December 2022, the authorities detained Bankman-Fried in the Bahamas.

SBF Expected to Face Charges from the CFTC, SEC, and Other Sources Also

This was done at the request made by the US authorities. The respective arrest was shocking for the House Financial Service Committee. The committee expected the former FTX CEO to remotely testify at the hearing on the 13^th of this month. Furthermore, a copy of the intended testimony of SBF has been exposed online.

The indictment contains severe charges however the FTX founder may experience charges from several other sources also. SEC and CFTC of the United States have additionally submitted charges to confront Bankman-Fried.