The document demands that the former CEO of FTX give up assets valued at hundreds of millions of dollars, much of which have already been taken by the American authorities.
Sam Bankman-Fried, the creator of FTX, is accused of further crimes, including bank fraud, according to a fresh indictment released on Thursday morning.
In addition to the eight counts he already faced, U.S. authorities are now accusing the former crypto-wunderkind of bank fraud and operating an unregistered money transmitter. Additionally, Bankman-Fried is accused of conspiring to make illegal political contributions under a modified version of the campaign finance law.
Prior to this, he was only accused of conspiring to commit wire fraud on lenders, conspiring to commit wire fraud on customers, conspiring to commit wire fraud on lenders, conspiring to commit commodities fraud, securities fraud, money laundering, conspiring to defraud the US, and conspiring to violate campaign finance laws.
The unsealed accusations claimed that in order to open a bank account, Bankman-Fried and others “falsely represented to a financial institution that the account would be utilized for trading and market making,” when in fact it would be used to receive and send customer funds.
He established a business with the purposefully ambiguous name North Dimension in order to present a “false story” to an unnamed bank that had previously been reluctant to create an account.
The document continued in the Southern District of New York, Bankman-Fried and other conspirators “agreed to and did make corporate contributions to candidates and committees that were reported in the name of another person.”
The document demands that Bankman-Fried relinquish property valued at hundreds of millions of dollars, much of which has already been seized by the authorities. They consist of the over 55 million share trading application Robinhood Markets (HOOD), which has a current market value of $550 million.
FTX Digital Markets’ accounts at Silvergate Bank and Farmington State Bank are to be searched for more than $140 million in cash, according to the request. October is the scheduled date for Bankman-Fried’s trial.