FTX Founder Sam Bankman-Fried Hit With Additional Bank Fraud Charges in New Indictment

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Bankman-Fried and others, in a bid to open a bank account, “falsely represented to a financial institution that the account would be used for trading and market making,” when it was in reality to be used to receive and transmit customer funds, the unsealed charges said. He opened a company, with a deliberately obscure name of North Dimension, to tell a “false story” to an unnamed bank that had previously been reluctant to open an account, authorities added.

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