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New charges against Sam Bankman-Fried

Pressure on the FTX founder is mounting. The Public Prosecutor's Office is filing new charges over illegal political donations.

By Mike Hesp
• 2 min read
New charges against Sam Bankman-Fried

Pressure on the FTX founder is mounting. The Public Prosecutor's Office is filing new charges over illegal political donations.

Sam Bankman-Fried faced new criminal charges on Thursday. In an extensive indictment the former FTX boss is accused of more than 300 illegal political contributions.

Bankman-Fried now faces 12 charges. Those include wire fraud, violations of campaign finance rules, and conspiracy. In a previous indictment, he pleaded not guilty to all charges.

The current document states that Bankman-Fried, along with two former FTX managers, donated millions of dollars to influence lawmakers in favor of the company.

To influence cryptocurrency regulation in Washington, "the 30-year-old arranged tens of millions of dollars in illegal campaign contributions to both Democrats and Republicans," according to the indictment.

Prosecutors said Bankman-Fried evaded donation limits to become one of the Democrats' largest donors in the 2022 U.S. midterm elections.

The trial against Bankman-Fried is set for October 2023. He faces up to 115 years in prison.

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