FTX founder faces new charges in rewritten indictment FTX founder Sam Bankman-Fried faced new fraud charges Thursday, as prosecutors accused him of cheating thousands of investors out of billions of dollars while casting himself as a trustworthy ”savior of the cryptocurrency industry" — an image boosted by celebrity-studded Super Bowl advertising and big donations to political figures. Four new charges, including securities fraud and conspiracy fraud counts, were unveiled with the unsealing of the refreshed indictment in Manhattan federal court that was returned a day earlier. In a statement, U.S. Attorney Damian Williams hinted, as he has several times previously, that prosecutors were not finished building their case. The new charges raised the prison sentence Bankman-Fried could face if convicted from 115 years to 155 years, authorities said. The new charges raised the number of counts in the indictment to 12, as prosecutors more thoroughly and eloquently told their story of what happened to FTX, Bankman-Fried's global cryptocurrency exchange, and its affiliated cryptocurrency trading hedge fund, Alameda Research. It was not known when Bankman-Fried would return to Manhattan for an arraignment. Twice in the last two weeks, he has appeared in court after prosecutors expressed concern that he might be communicating online in ways they cannot trace. They have also said his communications indicate that he might be trying to influence a witness with incriminating evidence against him. A judge is deciding how to toughen Bankman-Fried's bail requirements to prevent any improper communications. Last week, he even suggested that Bankman-Fried might have to be incarcerated prior to trial if his communications cannot be monitored to ensure he is not tampering with witnesses.
