Sam Bankman-Fried Charged with 300 Illegal Donations

“Embattled cryptocurrency mogul Sam Bankman-Fried directed tens of millions of dollars of illegal campaign contributions to elected officials, prosecutors alleged in a new superseding indictment unsealed Thursday in a Manhattan federal court,” NBC News reports.

“Bankman-Fried became one of the biggest Democratic donors in the country during last year’s midterm elections, with a net worth estimated at one point to be greater than $20 billion and dreams of spending up to $1 billion on the 2024 presidential contest.”

“But Bankman-Fried’s political giving was not all it seemed… The indictment accuses Bankman-Fried of directing at least 300 illegal campaign donations, totaling up to $100 million, to both Democrats and Republicans through two other unnamed FTX executives that acted as ‘straw donors‘ to hide the true source of the funds.”