2023-08-16 00:08:22
Sam Bankman-Fried spends over $100M on campaign contributions
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It’s just shocking. FTX founder Bankman-Fried used stolen client funds to make over $100 million in political campaign contributions ahead of the 2022 US midterm elections, federal prosecutors revealed Monday.
There is also a new charge: The 31-year-old ex-billionaire is said to have instructed FTX managers to circumvent donation limits by donating money to Democrats and Republicans and concealing their origin.
Behind bars
Sam Bankman-Fried is currently being held at the Metropolitan Detention Center on alleged witness tampering after a judge ruled on Friday that he violated his bail conditions.
The FTX founder reportedly passed information about ex-girlfriend and ex-Alameda boss Caroline Ellison to the New York Times. The court sees an attempt at manipulation to discredit Ellison. Bankman-Fried now expects a trial in the jail cell, and not in the family’s million-dollar house in Palo Alto, California.
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