Indictment against SBF unsealed, contains 8 counts of financial and elections fraud

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. 

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.”

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. 

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