FTX founder Sam Bankman-Fried gets a dozen charges in unsealed indictment | CBC News

A new indictment against FTX cryptocurrency exchange founder Sam Bankman-Fried containing 12 charges was unsealed on Thursday in Manhattan federal court.

Bankman-Fried was previously charged with eight counts of fraud, money laundering and other charges over the collapse of the now-bankrupt exchange. He has pleaded not guilty.

“Exploiting the trust that FTX customers placed in him and his exchange, Bankman-Fried stole FTX customer deposits, and used billions of dollars in stolen funds for a variety of purposes,” reads the new indictment, which was filed on Wednesday.

Prosecutors say Bankman-Fried used the stolen customer funds to cover up losses at Alameda Research, his hedge fund. Alameda’s former chief executive, Caroline Ellison, and a former FTX executive, Gary Wang, have both pleaded guilty to fraud charges and agreed to co-operate with the investigation.