{"id":2001441,"date":"2023-08-15T15:30:01","date_gmt":"2023-08-15T19:30:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftxs-bankman-fried-used-100-million-in-stolen-funds-to-donate-to-democrats-republicans-doj\/"},"modified":"2023-08-15T15:32:42","modified_gmt":"2023-08-15T19:32:42","slug":"ftxs-bankman-fried-used-100-million-in-stolen-funds-to-donate-to-democrats-republicans-doj","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftxs-bankman-fried-used-100-million-in-stolen-funds-to-donate-to-democrats-republicans-doj\/","title":{"rendered":"FTX&#8217;s Bankman-Fried donated $100M of stolen funds to both Democrats and Republicans, says DOJ."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fftxs-bankman-fried-used-100-million-in-stolen-funds-to-donate-to-democrats-republicans-doj%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2001441&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>Sam Bankman-Fried, the beleaguered FTX\u200b founder\u2062 and former billionaire, allegedly\u2062 stole $100 million \u2062in client funds for political \u200bcontributions used to influence cryptocurrency legislation, federal prosecutors wrote in a <a href=\"https:\/\/www.courtlistener.com\/docket\/66631292\/202\/united-states-v-bankman-fried\/\" target=\"_blank\" rel=\"noopener\">superseding indictment<\/a>.<\/p>\n<p>U.S. attorneys accused Mr. Bankman-Fried, \u200cin a late Aug. 14 amended indictment, of \u2062using stolen funds for various purposes, including &#8220;making lavish&#8221; federal campaign contributions and lobbying members of Congress and other <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-republicans-introduce-bill-to-deny-world-economic-forum-taxpayer-money\/\" title=\"House Republicans Introduce Bill to Deny World Economic Forum Taxpayer Money\">high-level government officials<\/a> &#8220;to promote cryptocurrency regulation that would favor his business and personal interests.&#8221;<\/p>\n<p>Federal prosecutors directed two FTX executives, \u200cincluding Nishad Singh, to conceal the source of the funds and &#8220;evade restrictions&#8221; on\u2062 specific kinds of political contributions and \u2063&#8221;thereby\u200c maximize FTX&#8217;s political influence.&#8221;<\/p>\n<blockquote>\n<h2>Related Stories<\/h2>\n<ul>\n<li>\n        <a href=\"http:\/\/www.theepochtimes.com\/us\/federal-judge-orders-sam-bankman-fried-to-jail-for-alleged-witness-tampering-5460278\">Federal Judge Orders\u200d Sam Bankman-Fried to Jail for Alleged Witness Tampering<\/a><\/p>\n<p>8\/11\/2023<\/p>\n<\/li>\n<li>\n        <a href=\"http:\/\/www.theepochtimes.com\/opinion\/the-money-trails-of-the-pandemic-planning-racket-5442633\">The Money Trails of the Pandemic Planning Racket<\/a><\/p>\n<p>8\/3\/2023<\/p>\n<\/li>\n<\/ul>\n<\/blockquote>\n<p>&#8220;He leveraged this \u2063influence, in turn, to\u200b lobby Congress and regulatory \u2064agencies to support legislation\u2063 and regulation he\u2064 believed would make it easier for FTX to \u200bcontinue to accept customer deposits and grow, which would, in turn, allow the misappropriation scheme to continue,&#8221; the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-home-appraiser-countersues-professors-who-accused-him-of-racism\/\" title=\"White Home Appraiser Countersues Professors Who Accused Him of Racism\">legal filing stated<\/a>. &#8220;Bankman-Fried also used these connections with \u2064politicians and government officials \u200bto falsely burnish the public image of\u2063 FTX as \u200da\u2062 legitimate exchange.&#8221;<\/p>\n<p>Documents <a href=\"https:\/\/theepochtimes.com\/article\/us-drops-campaign-finance-charges-against-bankman-fried-5427668\" target=\"_blank\" rel=\"noopener\">highlight<\/a> that he was\u200b a\u2063 substantial donor to Democrats in the 2021-2022 \u200delection cycle, contributing roughly $40\u2062 million to various political\u200d action\u2064 committees (PACs) and \u200bmembers of the \u2064House and Senate, such \u2064as Sen. Cory Booker\u200c (D-N.J.) and Rep. Debbie Stabenow (D-Mich.). Mr. Bankman-Fried also donated approximately $5 million to President\u200b Joe Biden&#8217;s 2020 election\u200b campaign.<\/p>\n<p>Overall,\u2063 he was the second-largest\u2064 top donor to Democrats, behind billionaire George Soros.<\/p>\n<p>The former crypto king enjoyed\u200b <a href=\"https:\/\/theepochtimes.com\/article\/relationship-among-ftx-ukraine-and-democrats-sparks-speculation-4862458?_gl=1*6ordzo*_gcl_au*MTc5MTEzMTQ4MC4xNjkyMTIwNDk3\" target=\"_blank\" rel=\"noopener\">multiple visits<\/a> to the White House in the\u200b first half of 2022, holding meetings with White House counselor Steve Ricchetti and Charlotte Butash, a policy adviser to the White House deputy chief of staff.<\/p>\n<h2>Witness Testimony<\/h2>\n<p>The U.S. government plans to depend on testimony from several individuals to\u2064 show jurors &#8220;the unlawful conduct directed and undertaken by the defendant.&#8221; Witness \u200btestimony will feature Caroline Ellison, his former girlfriend and the ex-CEO of Alameda Research; FTX co-founder \u2064Gary Wang; and Mr. Singh, the engineering chief \u2064at the cryptocurrency exchange.<\/p>\n<div>\n<figure style=\"width:600px\" class=\"alignnone\"><figcaption>Cryptocurrency exchange FTX announced its bankruptcy in November 2022. (Stefani \u2062Reynolds\/AFP)<\/figcaption><\/figure>\n<\/p><\/div>\n<p>They have already pleaded guilty to criminal charges in cooperation agreements with federal attorneys that could extend them \u200cleniency at sentencing.<\/p>\n<p>Meanwhile, Mr. Bankman-Fried&#8217;s attorneys submitted court papers requesting that the trial judge exclude evidence \u2062surrounding the FTX bankruptcy, the solvency of FTC and Alameda Research, and the companies&#8217; ability to repay customers. His lawyers also asked that the judge prohibit \u200dprosecutors from informing\u200d jurors that the former billionaire\u2064 resigned from FTX.<\/p>\n<p>Other evidence will examine private communications and financial records, as\u2062 well as Google documents and spreadsheets.<\/p>\n<h2>SBF Goes to Jail<\/h2>\n<p>U.S. District Judge Lewis Kaplan revoked Mr. Bankman-Fried&#8217;s bail and ruled in favor of federal prosecutors, placing him back in custody. Prosecutors claimed that he engaged in witness tampering, such as contacting\u2062 the general counsel of FTX through encrypted communication and <a href=\"https:\/\/www.theguardian.com\/us-news\/new-york\" target=\"_blank\" rel=\"noopener\">sharing<\/a> \u2063 Ms.\u2064 Ellison&#8217;s private diary with The New York Times.<\/p>\n<p>&#8220;The record here establishes that the defendant went beyond benignly exercising a \u200dconstitutional right \u200bto speak to the press\u2014he\u200b took covert steps intended to improperly discredit a trial witness and taint the \u200cjury pool,&#8221; prosecutors said. &#8220;[T]he\u200d Government seeks the only appropriate relief\u200c consistent with the defendant&#8217;s escalating evasions of his bail conditions: that bail be revoked, and the defendant be <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-orders-detention-for-alleged-proud-boy-whose-lawyer-blames-trump-for-capitol-incident\/\" title=\"Judge Orders Detention for Alleged Proud Boy Whose Lawyer Blames Trump for Capitol Incident\">detained pending trial<\/a>.&#8221;<\/p>\n<p>But Mr. Bankman-Fried&#8217;s \u2062representation argued that he should not be imprisoned for attempts to protect\u2063 his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftxs-bankman-fried-used-100-million-in-stolen-funds-to-donate-to-democrats-republicans-doj\/\" title=\"FTX's Bankman-Fried donated 0M of stolen funds to both Democrats and Republicans, says DOJ.\">reputation amid growing negative media reporting<\/a>.<\/p>\n<p>Since his December arrest, he had been primarily confined to\u200b his parents&#8217; home in Palo Alto, California, under \u2063house arrest on a $250 million bond.<\/p>\n<p>In a <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.590940\/gov.uscourts.nysd.590940.201.0.pdf\" target=\"_blank\" rel=\"noopener\">letter<\/a> to Judge Kaplan, his\u2064 attorneys requ<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>FTX founder Sam Bankman-Fried, once a billionaire, reportedly misappropriated $100 million from clients to sway cryptocurrency legislation through political donations, according to federal prosecutors. The updated indictment accuses him of utilizing the stolen funds for multiple purposes, including extravagant contributions to federal campaigns.<\/p>\n","protected":false},"author":278,"featured_media":2001442,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2001441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2001441"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2001442"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2001441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2001441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2001441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}