FTX Founder, Sam Bankman-Fried, is Facing Four New Criminal Charges

Sam Bankman-Fried, co-founder of the cryptocurrency company, FTX, got four additional criminal charges added to his already lengthy list on Thursday.

He was charged in a superseding indictment in a New York federal court. And according to CNBC, a source familiar with the new charges says an additional 40 years could be added to Bankman-Fried’s sentence, if convicted.

The new filing digs deeper into the alleged criminal behavior of Bankman-Fried related to his crypto exchange, FTX, and hedge fund, Alameda, and claims he “allegedly operated an illegal straw donor scheme as he moved to use customers funds to run a $40 million political influence campaign,” per CNBC.

Also, Bankman-Fried has appeared in court twice in the last two weeks after prosecutors suspected him to be communicating online in untraceable ways. Yahoo Finance reported that they believe he might be using ways to influence a witness that has incriminating evidence against him.

A judge is reportedly deciding on how to prevent Bankman-Fried’s online communications, even suggesting incarceration prior to his trial.