A superseding indictment against the FTX cryptocurrency exchange founder Sam Bankman-Fried containing 12 charges has been unsealed in Manhattan federal court.
Bankman-Fried was previously charged with eight counts of fraud, money laundering and other charges over the collapse of the now-bankrupt exchange. He has pleaded not guilty.
“Exploiting the trust that FTX customers placed in him and his exchange, Bankman-Fried stole FTX customer deposits and used billions of dollars in stolen funds for a variety of purposes,” read the new indictment, which was filed on Wednesday.
Prosecutors say Bankman-Fried used the stolen customer funds to plug losses at Alameda Research, his hedge fund.
Alameda’s former chief executive, Caroline Ellison, and a former FTX executive, Gary Wang, have both pleaded guilty to fraud charges and agreed to cooperate with the investigation.
More details soon …
