DOJ dismisses campaign finance charge against Democratic megadonor, accused of fraud.
The Department of Justice Drops Campaign Finance Charge Against Disgraced Former Crypto Tycoon
The Department of Justice (DOJ) has dropped a campaign finance charge against Sam Bankman-Fried, the co-founder of bankrupt crypto exchange FTX, according to a court document from the Southern District of New York.
Bankman-Fried and his associates were accused of using customer deposits to make $90 million in campaign contributions to around 300 candidates or political action committees, as reported by The New York Times.
The DOJ’s letter to the New York court states that the charge is being dropped because the Bahamas, where Bankman-Fried is currently located, does not plan to extradite him to the U.S. for this specific charge.
JUST IN: Feds won’t seek to try SBF on campaign finance charge after Bahamas said it wasn’t part of extradition agreement. Doc: https://t.co/ejOwrCGgYQ
— Josh Gerstein (@joshgerstein) July 27, 2023
Bankman-Fried had contributed nearly $39 million to Democrat-aligned causes, making him the second-largest individual donor during the 2022 midterm election cycle, according to an analysis of Federal Election Commission data by The Washington Post.
Bankman-Fried was extradited from the Bahamas to the U.S. in December after FTX collapsed, as reported by the Times. He has since been confined to his parents’ California residence on a $250 million bond, according to NPR.
Prosecutors have requested that Bankman-Fried be detained in jail until his trial scheduled for October, as reported by NPR. The judge has also placed a gag order on Bankman-Fried due to allegations of tampering with witnesses by leaking his former girlfriend and FTX business partner Caroline Ellison’s diary entries, according to CNN.
SAM BANKMAN-FRIED LEAVING COURT — possibly for the last time. Judge may throw him in jail for leaking Caroline Ellison diary entries.https://t.co/JegjxjDAK8 pic.twitter.com/ElzTZn63x1
— Jacob Shamsian (@JayShams) July 26, 2023
The DOJ and Bankman-Fried’s attorney have not yet responded to requests for comment from the Daily Caller News Foundation.
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