Customer money bankrolled millions in political donations made by former FTX CEO Sam Bankman-Fried, a violation of campaign finance laws, federal prosecutors say.
The Justice Department unveiled a superseding indictment Thursday, as campaign records revealed Bankman-Fried and other executives at the bankrupt cryptocurrency exchange made more than $71 million in political contributions in the two years leading up to the 2022 midterm elections.
“The defendant, perpetuated his campaign finance scheme at least in part to improve his personal standing in Washington, D.C., increase FTX’s profile, and curry favor with candidates that could help pass legislation favorable to FTX or Bankman-Fried’s personal agenda,” the indictment said. “To accomplish these goals, Bankman-Fried caused substantial contributions to be made in support of candidates of both major political parties and across the political spectrum.”
