FTX co-founder and former CEO, Sam Bankman-Fried, is facing yet another criminal charge, this time for allegedly bribing Chinese government officials with $40 million worth of cryptocurrency. 
According to federal prosecutors, this marks the 13th charge against Sam Bankman-Fried in a case that continues to draw attention from the cryptocurrency and financial industries.
On Tuesday, the Southern District Court of New York revealed a newly unsealed indictment . Bankman-Fried, who posted a bond of $250 million, has already entered a plea of not guilty to eight criminal counts relating to fraud and conspiracy. However, he has yet to be arraigned on five additional counts.
Prosecutors say Sam Bankman-Fried is accused of masterminding one of the largest financial frauds in U.S. history.
The charges relate to allegations that he coordinated a vast scheme to embezzle deposits from his cryptocurrency exchange, FTX.
Sam Bankman-Fried Had Chinese Officials Unfreeze Accounts Amid FTX Turmoil
Bankman-Fried is facing new charges of conspiring to violate the Foreign Corrupt Practices Act, which prohibits U.S. citizens from bribing foreign government officials in exchange for business. 
According to federal prosecutors in Manhattan, Bankman-Fried directed a payment to be made to release frozen accounts belonging to his hedge fund, Alameda Research, which held over $1 billion in cryptocurrency.
The payment was transferred from Alameda’s primary trading account to a private cryptocurrency wallet, and subsequently resulted in the release of the accounts. 
In light of the new 13-count indictment, prosecutors have requested for the former FTX big boss to be arraigned, and a court hearing has been scheduled for Thursday by District Judge Lewis Kaplan.
Sam Bankman-Fried: Revision Of Bail Terms
On Tuesday, Judge Kaplan also authorized new bail conditions for Bankman-Fried due to concerns over his past use of messaging apps and a virtual private network. These conditions will impose severe restrictions on his internet access.
Bankman-Fried will be permitted to use a VPN solely for accessing a database to aid in his defense, but he will require supervision from his lawyers.
In addition, he will have access to two electronic devices: a closely monitored laptop and a phone for voice calls and texts only. Any other device that permits voice or chat communication or internet access is strictly forbidden, as stated by Kaplan.




Bankman-Fried is currently under house arrest at his parents’ residence in Palo Alto, California, with strict limitations on his movements.
If found guilty of all charges, he faces a possible sentence of over 155 years in prison. A trial is slated for October.
-Featured image from World Atlas