Another top executive at the failed FTX cryptocurrency exchange is scheduled to appear in court in New York Thursday afternoon to face undisclosed criminal charges.
Among other things, prosecutors said he defrauded customers by diverting their money to cover his expenses, make illegal campaign contributions to U.S. politicians, and make trades at a separate crypto hedge fund he founded, Alameda Research.
Three other executives close to Bankman-Fried have already pleaded guilty: Caroline Ellison, Nishad Singh and Gary Wang.Bankman-Fried has pleaded not guilty. He was free on bail while awaiting trial, but he wasafter a judge ruled that he had tried to influence potential witnesses in the case, including by giving Ellison’s private writings to news organizations.
Before FTX collapsed and declared bankruptcy in November, Bankman-Fried had been one of the best-known U.S. crypto entrepreneurs. His company hired celebrities, including “Curb Your Enthusiasm” star Larry David, to appear in TV ads. Bankman-Fried and people associated with his companies, including Salame, were also heavy givers to political campaigns. SalameThe Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.
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