FTX’s Sam Bankman-Fried charged with bribing Chinese officials | Business News

Disgraced FTX founder Sam Bankman-Fried has been accused of paying $40m (£32.4m) in bribes to Chinese officials.

Prosecutors allege he directed payments to unfreeze accounts belonging to his hedge fund.

Accounts at his trading firm Alameda Research, which allegedly hold more than $1bn (£812m) in cryptocurrencies, have allegedly been frozen by Chinese authorities.

Prosecutors allege they were unfrozen after the alleged bribe was paid around November 2021.

Bankman-Fried is accused of transferring tens of millions of dollars worth of additional cryptocurrency to complete the bribe.

The 31-year-old has pleaded not guilty to eight counts related to the collapse of FTX last year.

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