TechFlow News, November 13 — According to The Block, the U.S. Department of Justice filed a lawsuit on Tuesday seeking to seize approximately $17.9 million in cryptocurrency from a Binance account linked to allegations that former FTX CEO Sam Bankman-Fried (SBF) attempted to bribe Chinese officials.
The indictment alleges that in November 2021, SBF directed Alameda Research to transfer 40 million USDT to Chinese officials in an effort to unfreeze about $1 billion worth of cryptocurrency assets frozen on two Chinese exchanges. The Binance account in question holds cryptocurrencies including Solana, Cardano, Ripple, Internet Computer, and Avalanche, with a market value of approximately $17.9 million as of press time.
This action marks the latest legal development following SBF's 25-year prison sentence handed down in March this year. SBF was previously convicted by a jury on seven criminal counts involving fraud against FTX customers, lenders, and investors.
