While he says he tries to “fix things” Since his release on bail, SBF, the former boss of the bankrupt exchange, FTX has had to face new legal pressure. Prosecutors in charge of the case charged the accused with four new counts, bringing the total to twelve. Court sources say the ex-crypto mogul now faces up to 100 years in prison.
Things get complicated for SBF
The prosecutors in charge of the FTX case are working hard to prove SBF’s guilt in the FTX case. This was confirmed at the end of the week, the Manhattan prosecutor, Damian Williams. “We are working hard and we will do it until justice is done”. A statement he made as part of the filing of a new indictment, which includes four additional counts against SBF.
The new indictment filed in federal court in New York charges him with “securities fraud, wire fraud and multiple counts of conspiracy related to wire fraud on FTX clients and Alameda lenders; illegal contributions to election campaigns; money laundering; operating an unauthorized money transfer business; and bank fraud.
Among other things, the document refers to the illegal nature of a large part of the donations he made to politicians in Washington. Some are said to be in violation of federal campaign finance laws. He is also accused of having stolen his clients’ money to make speculative investments, but also to make charitable contributions and to enrich himself.
“SBF has attempted to gain influence over crypto regulation in Washington, DC, by directing tens of millions of dollars in illegal campaign contributions for both Democrats and Republicans”we read in the new indictment.
Under US law, these new charges should be worth the equivalent of 40 years in prison. This brings to more than 100 years, the sentence which the crypto entrepreneur could receive, if found guilty on all counts.
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