People

Sam Bankman-Fried Faces More Bank Fraud Charges

  1. Sam Bankman-Fried, the creator of FTX, is accused of four other bank frauds.
  2. Now, the crypto speculator could spend 155 years behind bars.
  3. Bankman-Fried is charged with making 300 unauthorized campaign contributions.

Sam Bankman-Fried, an alleged crypto fraudster, is charged with four additional crimes related to the collapse of the $250 billion FTX exchange. This brings his total number of potential prison terms to 155 years after claims of 300 illegal political contributions are added.

Read CRYPTONEWSLAND on google news

According to court papers on Thursday, Bankman-Fried is now accused of 12 crimes, including bank fraud, running an unlicensed money transmitter, and making more than 300 illegal political contributions totaling $100 million.

Additionally, In a fresh indictment submitted to a federal judge in Manhattan, the prosecution accuses him of having a messiah complex and portraying himself as a “savior” while bragging about FTX’s profits. It is unknown if Bankman-Fried will return to New York for additional accusations.

Notably, the 30-year-old crypto trader was deported from the Bahamas after being initially charged with eight criminal charges in December. October 2023 has been marked aside for his trial. The product of California has entered a not-guilty plea to all allegations. Bankman-Fried already faced 115 years in prison. An extra 40 years could be added to that sentence if found guilty of all charges.

According to the latest accusations, Bankman-Fried is blamed for sending out “a series of misleading tweets” in the days preceding the fall of FTX. Additionally, he is charged with trying to pay for political influence in both the Republican and Democratic parties.

However, the accusations against Bankman-Fried claim that he gave more than 300 unauthorized political contributions in the United States through his ex-girlfriend’s cryptocurrency trading company Alameda Research.

Prosecutors claimed that the tens of millions of dollars in donations were illegal because they were given in the name of a straw contributor or with corporate funds. However, this frequently allowed Bankman-Fried to exceed contribution thresholds for individual contributions to candidates.

Read Also :

Godfrey Mwirigi

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

Recent Posts

Bitcoin Halving Impact ‘First Time in History’ Update Makes Miners Wary

📉 Bitcoin halving slashes miner rewards by half, doubling investment needs for breaking even. Despite…

3 hours ago

Discover the Secret: Turning BEFE Coin into $250K!

Experts believe that the BEFE coin is capable of turning small pennies into millions within…

3 hours ago

New Viral Memecoin in Solana Network Stooges Launches $STOG Presale

Medellin, Colombia, April 29th, 2024, ChainwireStooges, a community-driven memecoin on Solana, announced the upcoming presale…

4 hours ago

Bitgert Coin’s Phenomenal +2000% Surge – What You Need to Know!

The cryptocurrency space is a tremendous innovation to the financial sector. It is the present…

4 hours ago

Vitalik Buterin Reveals Ethereum’s PoW Centralization Problems

Vitalik Buterin reveals Ethereum's PoW flaws and champions PoS! Dive into the debate now. #Ethereum…

4 hours ago

Crypto Rewards Galore: Mark Your Calendar for May

🌟🎉 This May, don’t miss the #CryptoAirdrops from #BASE, #Bitget, and #ICP! Get ready to…

5 hours ago