Biden's DOJ drops charges of political campaign violations against disgraced FTX founder Sam Bankman-Fried

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Former FTX CEO Sam Bankman-Fried has been prosecuted for fraud by the federal government, but the charged he faced for political campaign finance violations have been dropped by federal prosecutors. Bankman-Fried donated millions to political campaigns, both Democrat and Republican.

Five charges against Bankman-Fried were already dropped in August. These charges included bank fraud and bribing a foreign government.

Bankman-Fried donated $5.2 million to President Joe Biden’s 2020 presidential campaign. Bankman-Fried was indicted on charges of using over $100 million in customer funds to donate to Democrat campaigns. “He 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 read in August.

The letter submitted to Judge Lewis A Kaplan in the case of the United States v. Samuel Bankman-Fried reads that the federal government “does not plan to proceed with a second trial,” going on to say that “much of the evidence that would be offered in a second trial was already offered in the first trial and can be considered by the Court at the defendant’s March 2024 sentencing.”

Citing the “strong public interest in a prompt resolution of this matter,” the prosecution states that “the Government intends to proceed to sentencing on the counts for which the defendant was convicted at trial.”

Bankman-Fried was charged, the letter states, with “two counts of conspiracy to commit wire fraud, two counts of wire fraud, conspiracy to commit securities fraud, and conspiracy to commit money laundering.

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