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Al Jazeera
Al Jazeera
Business

Bankman-Fried slapped with new charges of using stolen funds for politics

In the new charges, US federal prosecutors said Sam Bankman-Fried directed other FTX executives to make donations to evade contribution limits as part of a push for crypto-friendly regulation [Alex Wong/Getty Images via AFP]

Sam Bankman-Fried used stolen customer funds to make more than $100m in political campaign contributions ahead of the 2022 United States midterm elections, federal US prosecutors said on Monday in a new indictment filed against the FTX cryptocurrency exchange’s founder.

The indictment charges the 31-year-old former billionaire with seven counts of conspiracy and fraud over the collapse of the exchange.

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