Sam Bankman\u002DFried and his co\u002Dconspirators made more than 300 illegal political donations in the United States, according to new indictment.
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The donations, totaling tens of millions of dollars, were unlawful because they were attributed to a “straw donor” or made using corporate funds, often allowing Bankman-Fried to evade contribution limits on individual contributions to candidates, prosecutors said.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Bankman-Fried was previously hit with eight counts of fraud, money laundering and other charges over the collapse of the now-bankrupt exchange. He has pleaded not guilty in those cases. Prosecutors say Bankman-Fried used the stolen customer funds to plug losses at Alameda Research, his hedge fund. Alameda’s former chief executive, Caroline Ellison, and a former FTX executive, Gary Wang, have both pleaded guilty to fraud charges and agreed to cooperate with the investigation.Article content
“Exploiting the trust that FTX customers placed in him and his exchange, Bankman-Fried stole FTX customer deposits, and used billions of dollars in stolen funds for a variety of purposes,” reads the new indictment, which was filed on Wednesday.
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