Former FTX CEO faces 12 criminal charges

blockchain.news:

The federal court who is presiding over the prosecution of the former chief executive officer of FTX, Sam Bankman-Fried, has given the order for a superseding indictment to be disclosed. This indictment contains 12 separate criminal offenses.

In a superseding indictment that was submitted to the United States District Court for the Southern District of New York on February 22, United States Attorney Damian Williams alleged that the actions of Bankman-Fried in the case involving FTX and Alameda warranted the filing of 12 charges against him. According to the indictment, they included eight accusations connected to conspiring to commit fraud, as well as four charges each for wire fraud and securities fraud.

The superseding indictment against Bankman-Fried mentioned an additional charge for conspiracy to commit bank fraud and broke down individual wire fraud charges related to his alleged actions at FTX and Alameda. The initial indictment against Bankman-Fried, which was announced on December 13, included eight similar charges. However, the superseding indictment included nine charges. At the time, prosecutors also listed conspiracy to commit commodities fraud in its charges, which appeared to be included in the superseding indictment related to the «purchase and sales of derivatives» at FTX. This charge was seemingly included in the indictment related to the «purchase and sales of derivatives.»

The indictment states that Bankman-Fried engaged in fraudulent activity when he opened a bank account and tried to obtain user deposits: "[Bankman-Fried and others] falsely represented to a financial institution that the account would be used for trading and market making, even though he knew that the account would be used to