In a Department of Justice indictment unsealed on Tuesday, Bankman-Fried has been charged with eight counts including conspiracy to commit wire fraud on customers and lenders, money laundering and violations of campaign finance laws.
Bankman-Fried, who was arrested in the Bahamas on Monday, faces years in prison if convicted.
The charges point to a long-running scheme to misappropriate the deposits of exchange customers to pay debts and expenses of Bankman-Fried’s private trading firm Alameda Research and to make investments.
The conspiracy ran from 2019 — the year he founded FTX — until its collapse last month, according to the complaint.
