Sam Bankman-Fried is charged with new crimes as Prosecutors Detail Illegal Politic Deals

The United States Southern District Court of New York previously charged SBF with all of the following:Conspiracy to commit wire fraud on customersWire fraud on customersWire fraud on lendersWire fraud of lendersConspiracy to commit commodities theftConspiracy to commit securities FraudConspiracy to make money laundering The United States Southern District Court of New York previously charged SBF with the following: Conspiracy for wire fraud on customersWire Fraud on customersWire fraud against lendersWire fraud upon lendersConspiracy of committing commodities fraudConspiracy of committing securities fraudConspiracy of committing money laundering The regulatory scrutiny and the business impact that followed have left the industry still reeling. “Contrary Bankman-Fried’s promises to FTX clients that the exchange would protect and segregate their interests, Bankman-Fried routinely tapped FTX client assets to provide interest-free capital to Alameda and his private expenditures. This exposed FTX customers a massive, undisclosed danger,” the new charges state. “In addition, Bankman-Fried claimed publicly that FTX was independent from Alameda’s cryptocurrency trading and investments into other companies. However, by his design, the truth is different.” The document claims that Bankman-Fried caused significant contributions to be made to candidates of both major political parties as well as across the political spectrum. Bankman-Fried did not want his name to be associated with Republican candidates or to be known as a left-leaning partisan. Bankman-Fried, along with others, conspired to conceal his involvement in certain contributions. Contributions were made in the names CC-1 and CC-2 of [FTX executives]. This coordinated scheme saw contributions made in the names and addresses of straw donors to candidates they didn’t necessarily support or know. These straw donations were instead made for purposes of furthering the political agenda of SBF while providing him cover to avoid being associated with certain contributions, and concealing that the source of the contributions was in fact Alameda.”Bankman-Fried’s highly anticipated trial is set for October 2023.


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