Sam Bankman Bribe Chinese Official with 40 Million

by Dominic Hernandez

Sam Bankman-Fried was in Federal court in New York in March. He was pleading not guilty to more charges against him. The more interesting charge is the bribery of “at least one Chinese government official.” On the collapse of FTX, Fried is against 13 counts of criminal activity. Prosecutors have shown that he succeeded in bribing the Chinese official with $40 million in 2021.  Spokespeople for Fried and China’s embassy both denied questions about comments on the situation. Fried attempted to bribe Chinese officials due to the freezing of several Alameda accounts worth more than $1 billion. The accounts held two Chinese cryptocurrency exchanges. Fried had an employee deliver the money to the government official to unfreeze them. In doing so Fried authorized money transfers through cryptocurrency to complete the bribe. The bribe was to be a last resort. Bankman-Fried was arrested in December by U.S authorities, and indicted by a grand jury in New York. The Commission called it a “Yearslong fraud.” Though he had been released on bail he had been approved to have phones and a laptop but it has limited functionality. His phone only allows messaging and voice recordings. While his laptop only allows usage of pre-approved websites like for example Doordash and Amazon. He has also prohibited the use of any other source of electronics like phones, tablets, and even video games that allow messages and communication.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s