SBF Hit With More Charges in Effort to Influence Midterms via Straw Donor Scheme

Townhall Media

Sam Bankman Fried is now facing more charges that were filed on Thursday. This new 12-count indictment supersedes the eight-count indictment that was filed in December.

Advertisement

The new indictment accuses him of securities fraud, wire fraud, and multiple conspiracy counts related to wire fraud on FTX customers and Alameda’s lenders; illegal campaign contributions; money laundering; operating an unlicensed money transmitting business; and bank fraud.

It also laid out in greater detail the straw donor scheme that SBF allegedly used to funnel $70 million to candidates to help influence the 2022 midterms. According to the indictment, SBF “made over 300 political contributions, totaling tens of millions of dollars, that were unlawful because they were made in the name of a straw donor or paid for with corporate funds.” To avoid the law and exceed the contributions he could make, he allegedly made some of those political contributions in the name of two other FTX executives.

According to the indictment, he had one associate be the “face” to give to “center-left” candidates and another to give to Republican candidates. One consultant told one of the associates: “In general, you being the center left face of our spending will mean you giving to a lot of woke sh-t for transactional purposes.”

Advertisement

They also tried to keep donations to Republicans in the dark.

The whole purpose was for SBF to increase his influence in Washington, D.C. with lawmakers and to help pass favorable legislation.

The money for the donations allegedly came from the accounts of FTX customers (which are still frozen) as well as from a hedge fund, Alameda Research, that he also controlled. That means that Democrats and Republicans, and any other groups who may have gotten money may be embroiled in the case and have to give back the money, right as they are trying to raise more money for the election in 2024, which could impact those elections as well.

Sponsored

Recommended

Join the conversation as a VIP Member

Trending on RedState Videos