Bankman-Fried used $100 million in stolen FTX funds for political donations, US says
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2023-08-15 00:33
Bankman-Fried used $100 million in stolen FTX funds for political donations, US says
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to make than $100 million in political campaign contributions before the 2022 U.S. midterm elections, federal prosecutors said on Monday. An amended indictment accused the 31-year-old former billionaire of directing two FTX executives to evade contribution limits by donating to Democrats and Republicans, and to conceal where the money came from. 'He leveraged this influence, in turn, to lobby Congress and regulatory agencies to support legislation and regulation he believed would make it easier for FTX to continue to accept customer deposits and grow,' the indictment said.

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