Sam Bankman-Fried was the second largest Democratic party donor in US history. He has also secretly funded Republicans to maximize his political influence in Washington. Now it comes out: The gifts of the FTX founder were probably embezzled customer funds. That comes from an updated indictment against Sam Bankman-Fried (SBF). According to business magazine forbes is about a total of 100 million US dollars.
You want to compare the best wallets?
In our BTC-ECHO comparison portal we show you the best wallets with which you can store your crypto assets safely.
To the wallet comparison
Seven counts of conspiracy and fraud were added to the indictment against Sam Bankman-Fried last Monday, August 14, 2023. SBF secretly funneled customer funds from FTX sister company Alameda Research to personal bank accounts of Alameda executives, which they then used to make party donations – on his instructions. With these donations he pursued the goal of maximizing his political influence. According to the indictment, he used this influence to lobby the US Congress and the responsible supervisory authorities to improve the legal situation for FTX so that the crypto exchange could generate users and customer funds more easily.
It is unclear whether the donations will have to be repaid in the course of the insolvency proceedings.
read too
Sam Bankman Fried in prison
Judge Lewis Kaplan, who is responsible for Sam Bankman-Fried’s case, ordered his house arrest lifted at the end of last week. To avoid jail cell up to and during his court hearing, SBF posted bail of $250 million – but that is now on hold. The reason for this: repeated violations of the requirements.
“Given the evidence, I conclude that it is likely that the defendant attempted to influence witnesses on at least two occasions,” Kaplan summarized, concluding, “All things considered, I will revoke bail.”
Sam Bankman-Fried’s trial is scheduled to begin in October 2023.
You might also be interested in this