On Monday, former FTX engineering chief Nishad Singh became the latest member of Sam Bankman-Fried's inner circle to testify against the disgraced crypto founder, telling Department of Justice prosecutors how he helped direct customer funds for the company's own purposes.
One destination was political contributions. As prosecutors have built their criminal case against Bankman-Fried, they have honed in on the tens of millions of dollars worth of campaign donations given to candidates by FTX and top executives, alleging that many of the contributions came through a straw donor scheme, meaning the funds were illegally donated in someone else's name.
