twitchy.com Earlier this week, FTX founder Sam Bankman Fried was arrested in the Bahamas and accused of a scheme to defraud investors:
The U.S. government charged Samuel Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company’s multibillion-dollar collapse.
Federal prosecutors said Bankman-Fried devised “a scheme and artifice to defraud” FTX’s customers and investors beginning in 2019, the year it was founded. He illegally diverted their money to cover expenses, debts and risky trades at the crypto hedge fund he started in 2017, Alameda Research, and to make lavish real estate purchases and large political donations, prosecutors said in a 13-page indictment.
Bankman-Fried, 30, was arrested Monday in the Bahamas at the request of the U.S. government, and remains in custody after being denied bail.
Then there’s the issue of Bankman-Fried’s political donations, which the Washington Post has looked into:
Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, was a prolific political donor, pumping about $40 million this cycle alone into campaign committees and other groups, mostly aligned with Democrats, federal records show.
His contributions are under scrutiny as federal prosecutors on Tuesday alleged that Bankman-Fried had broken campaign finance laws by sourcing donations from his related crypto hedge fund, Alameda Research, and falsely reporting them as originating from other people.
@EddieZipperer’s dive into Bankman-Fried’s political donations makes it a little easier to understand why some in politics (most but not all are Dems) aren’t very eager to provide comment or have in-depth discussions on what SBF is accused of:
ahttps://twitter.com/EddieZipperer/status/1603069365783511041?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1603069365783511041%7Ctwgr%5Eece979d038288bd7dc497f36706ff0b48de23fab%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Ftwitchy.com%2Fdougp-3137%2F2022%2F12%2F14%2Ffreudian-typo-among-things-spotted-in-wapos-list-of-bankman-fried-political-contributions%2F
READ FULL STORY HERE… – twitchy.com
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