The indictment against Sam Bankman-Fried (SBF) was unsealed Dec. 13. The indictment, signed by U.S. Attorney for the Southern District of New York Damian Williams, is 14 pages lengthy and containe eight counts.
The fees listed against SBF within the indictment are: Conspiracy to commit wire fraud on clients, wire fraud on clients, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit cash laundering anconspiracy to defraud the United States and violate the marketing campaign finance legal guidelines.
USA Damian Williams: Earlier this night, Bahamian authorities arrested Samuel Bankman-Fried on the request of the U.S. Government, based mostly on a sealed indictment filed by the SDNY. We anticipate to maneuver to unseal the indictment within the morning and could have extra to say at the moment.
— US Attorney SDNY (@SDNYnews) December 12, 2022
As a consequence of the primary 4 and the seventh counts, SBF is required to forfeit “any and all property, actual and private, that constitutes or is derived from proceeds traceable to the fee of mentioned offenses.” If that’s not doable the United States will “search forfeiture of some other property of the defendant as much as the worth of the above forfeitable property.”
Only SBF is called within the indictment, though it additionally refers to “people identified and unknown.”
SDNY indictment against SBF has been unsealed. He’s being charged with wire fraud and a number of conspiracies to commit: wire, commodities and securities fraud together with cash laundering. Also marketing campaign finance violations. They’re throwing the e book at him.https://t.co/biQ7vOJMBp
— Dave Lauer (@dlauer) December 13, 2022
The indictment thus combines fees referring to the operation of FTX and Alameda Research with SBF’s political actions. The fees below the eighth depend embody violating legal guidelines on contributions, obstructing the Federal Election Commission’s capabilities, making contributions within the identify of others and contributions made by group prohibited to take action below federal regulation.
Related: Hours earlier than his arrest, SBF denied being half of ‘Wirefraud’ chat group
SBF was arrested within the Bahamas on Dec. 12 on the request of the U.S. authorities. The arrest was a shock to the House Financial Services Committee, which anticipated SBF to testify remotely at a listening to on the morning of Dec. 13. A duplicate of his supposed testimony has been leaked on-line. The fees within the indictment are severe, however SBF is predicted to face fees from many different sources as effectively. The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission (CFTC) have additionally filed fees against SBF, and he might face fees in U.S. states and in different jurisdictions.