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 agelong and containe 8 counts. 

The charges listed against SBF successful the indictment are: Conspiracy to perpetrate ligament fraud connected customers, ligament fraud connected customers, conspiracy to perpetrate ligament fraud connected lenders, ligament fraud connected lenders, conspiracy to perpetrate commodities fraud, conspiracy to perpetrate securities fraud, conspiracy to perpetrate wealth laundering anconspiracy to defraud the United States and interruption the run concern laws. 

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried astatine the petition of the U.S. Government, based connected a sealed indictment filed by the SDNY. We expect to determination to unseal the indictment successful the greeting and volition person much to accidental astatine that time.

— US Attorney SDNY (@SDNYnews) December 12, 2022

As a effect of the archetypal 4 and the seventh counts, SBF is required to forfeit “any and each property, existent and personal, that constitutes oregon is derived from proceeds traceable to the committee of said offenses.” If that is not imaginable the United States volition “seek forfeiture of immoderate different spot of the suspect up to the worth of the supra forfeitable property.”

Only SBF is named successful the indictment, though it besides refers to “individuals known and unknown.”

SDNY indictment against SBF has been unsealed. He's being charged with ligament fraud and respective conspiracies to commit: wire, commodities and securities fraud on with wealth laundering. Also run concern violations. They're throwing the publication astatine him.https://t.co/biQ7vOJMBp

— Dave Lauer (@dlauer) December 13, 2022

The indictment frankincense combines charges relating to the cognition of FTX and Alameda Research with SBF’s governmental activities. The charges nether the eighth number see violating laws connected contributions, obstructing the Federal Election Commission’s functions, making contributions successful the sanction of others and contributions made by enactment prohibited to bash truthful nether national law.

Related: Hours earlier his arrest, SBF denied being portion of ‘Wirefraud’ chat group

SBF was arrested successful the Bahamas connected Dec. 12 astatine the petition of the U.S. government. The apprehension was a astonishment to the House Financial Services Committee, which expected SBF to attest remotely astatine a proceeding connected the greeting of Dec. 13. A transcript of his intended testimony has been leaked online. The charges successful the indictment are serious, but SBF is expected to look charges from galore different sources arsenic well. The U.S. Securities and Exchange Commission  and Commodity Futures Trading Commission (CFTC) person also filed charges against SBF, and helium whitethorn face charges successful U.S. states and successful different jurisdictions.