A new indictment Monday marked the latest chapter in Sam Bankman-Fried’s legal troubles following the collapse of FTX.
against FTX cofounder Sam Bankman-Fried on Monday, charging him with fraud for allegedly stealing $100 million dollars of customer funds to make campaign donations ahead of the 2022 midterm elections, making good on prosecutors’ promises to press charges over the disgraced crypto billionaire’s alleged illegal campaign finance scheme.
Bankman-Fried then “leveraged this influence, in turn, to lobby Congress and regulatory agencies to support legislation and regulation he believed would make it easier for FTX to continue to accept customer deposits and grow,” the indictment alleges. Prosecutors had previously charged him with campaign finance law violation charges, but dropped those charges after The Bahamas told the U.S. that the charge was not part of the agreement under which the country extradited Bankman-Fried in December—this indictment marks a workaround of that diplomacy issue.
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