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.

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."

Here is a list of the charges in the indictment:

• Conspiracy to commit wire fraud on customers
• Wire fraud on customers
• Conspiracy to commit wire fraud on lenders
• Wire fraud on lenders
• Conspiracy to commit commodities fraud
• Conspiracy to commit securities fraud
• Conspiracy to commit money laundering
• Conspiracy to defraud the United States and violate the campaign finance laws

Prosecutors accused Bankman-Fried of intentionally securing funds "by means of false and fraudulent pretenses, representations and promises," and alleged his victims were lenders and FTX customers.

The indictment alleged that FTX customer funds went toward paying off Alameda Research's debts or inappropriately put toward investments, and that Alameda's own lenders were given "false and misleading information." It also accused Bankman-Fried of similarly duping FTX's investors.

In allegations that he conspired to violate US campaign finance laws, prosecutors targeted his political donations, including to candidates running for federal positions.

Otherwise, details about Bankman-Fried's alleged criminal conduct were sparse in the filing, which enumerated the counts against him in mostly boilerplate language that laid out the basis for the charges.

The indictment highlighted at least one recent instance in September in which Bankman-Fried emailed an FTX investor with "materially false information about FTX's financial condition," according to the charges. The indictment essentially outlines the charges and indicates why they're being brought in the US, indicating that at least some FTX investors were based in New York.

Bankman-Fried, who had been living in the Bahamas, and running FTX International for customers outside the US, was arrested Monday in the Bahamas following the US indictment.