The U.S. Department of Justice recently issued the latest version of a superseding indictment against FTX founder Sam Bankman-Fried (SBF), accusing him of violating election finance regulations by illegally misappropriating more than $100 million in user deposits to fund political donations.
In a document filed with the U.S. District Court for the Southern District of New York on August 14, U.S. Attorney Damian Williams filed seven counts against SBF, which are almost identical to the eight criminal charges he faced when he was extradited to the United States. The only difference is that The charge of "election finance violations" was included in the charge of wire fraud because the defense lawyer argued that the charge of "campaign finance violations" was not originally included in the extradition agreement, so there should be no additional charges against SBF. accusation.
The U.S. Department of Justice stated in the superseding indictment that in order to conceal the source of political donations, some of the campaign donations were made in the personal names of FTX executives. In the end, more than $100 million in customer funds were used to "fund the Democratic and Republican parties." campaign to try to influence cryptocurrency regulatory policy.”
Related reading: SBF donated a total of US$90 million in political donations! FTX asks US politicians to give back everything before the end of the month
Because he was suspected of repeatedly "tampering with witnesses" during his bail period, SBF's bail was revoked by the court last week and he was taken into custody in court and jailed pending trial. He is currently being held in the "Brooklyn Metropolitan Detention Center (MDC Brooklyn)", which is notorious for its harsh conditions.
This article SBF’s “US$100 million political donation” is all users’ hard-earned money! The U.S. Department of Justice insists on pursuing the case to the end. The post appeared first on Blockchain.