Sam Bankman-Fried hit with 8 criminal charges, including fraud and conspiracy for allegedly ‘misappropriating’ FTX customer funds

• A grand jury indictment against Sam Bankman-Fried was unsealed Tuesday.
• Prosecutors in New York accused him of mixing the coffers of FTX and Alameda Research.
• The 8 criminal charges against him include wire fraud, conspiracy to commit money laundering, and conspiracy to defraud the US and violate the campaign finance laws.

US federal prosecutors in New York have formally charged former FTX CEO Sam Bankman-Fried with 8 criminal charges, including fraud for allegedly using FTX funds to support the endeavors of his crypto hedge fund Alameda Research. 

In charges unsealed Tuesday morning, a grand jury indictment laid out the 8 accusations against Bankman-Fried, alleging he directed FTX customer funds to "pay expenses and debts of Alameda Research." 

Prosecutors have leveled charges including wire fraud, conspiracy charges to commit securities fraud and money laundering, and conspiracy to defraud the US and violate the campaign finance laws.

This is a developing story…