On March 30, the former FTX CEO, Bankman- fried pleaded not guilty to the alleged bribery and campaign finance violations involving a Chinese government officials.
The founder of the failed cryptocurrency trading platform has previously pleaded not guilty to eight other charges. It was regarded by the prosecutors as one of the biggest financial frauds in United state history.
Earlier this week, Bankman had been alleged by federal prosecutors of bribing a governmental official with a whooping amount of $40million worth of cryptocurrency in other to unfreeze a digital Asset containing over $1billion dollar.
In the recent indictment, prosecutors alleged that Bankman-Fried seeks to pay off Chinese officials to unfreeze accounts belonging to his hedge fund, Alameda Research.
The accounts where unfreezes after the payment was transferred to a private crypto wallet from Alameda main account, the prosecutor added.
Bankman-Fried who is confined in his parents’ home at Palo Alto, California, was also alleged by the prosecutors to have stole FTX customer deposits which led to the collapse of the Cryptocurrency trading platform.
Additionally, if the former CEO convicted on all counts, he is likely to face 155years in prison. A trial has been scheduled for October.