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Bankman-Fried prosecutors may show jury evidence of political donations, judge rules

  • 📰 Reuters
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A U.S. judge on Tuesday said prosecutors can discuss Sam Bankman-Fried's political donations at his upcoming trial, because the contributions are relevant to the fraud charges faced by the FTX cryptocurrency exchange founder.

U.S. District Judge Lewis Kaplan in Manhattan said evidence of the former billionaire's donations were "intertwined inextricably" with charges he defrauded FTX customers by stealing billions of dollars in deposits.

Federal prosecutors initially charged Bankman-Fried, 31, with conspiring to break U.S. campaign finance laws, in addition to seven other fraud and conspiracy charges stemming from the now-bankrupt FTX's November 2022 collapse. Prosecutors said he used $100 million in stolen FTX deposits to fund those donations, which he hoped would spur the passage of crypto-friendly legislation.

 

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Sam Bankman-Fried's trial to test dueling explanations for FTX’s collapseIn U.S. prosecutors' telling, Sam Bankman-Fried embezzled money from depositors in his FTX cryptocurrency exchange ever since he launched it in 2019, and the resulting shortfall led directly to its collapse as crypto prices swooned last year.
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