Democrat Megadonor and Crypto Mogul Convicted in Massive Scam
Shared By Peter Boykin – American Political Commentator / Citizen Journalist / Political Candidate
Sam Bankman-Fried (SBF)
Democrat Megadonor and Crypto Mogul Convicted in Massive Scam
In a significant turn of events, Sam Bankman-Fried (SBF), the former crypto titan and prolific Democrat megadonor, has been found guilty on all seven counts, including defrauding customers, investors, and money laundering.
Background: Approximately a year ago, SBF’s crypto exchange, FTX, experienced a crash, resulting in the loss of $8 billion in customer assets.
Legal Outcome: A New York federal jury delivered a conviction against SBF, emphasizing the severity of his actions that impacted numerous customers and investors.
U.S. Attorney’s Statement: Damian Williams, the U.S. Attorney overseeing the case, stated, “This kind of fraud, this kind of corruption is as old as time. We have no patience for it.”
Political Implications: During the 2022 election cycle, SBF emerged as the second-largest donor to the Democrat party, trailing only behind George Soros in contributions. Reports indicate that the crypto figure had ambitious plans to allocate up to $1 billion for political purposes in the upcoming 2024 elections.
Future Steps: SBF’s sentencing hearing is scheduled for March 28, 2024, where the severity of his actions may lead to a substantial prison term, potentially spanning decades.
[Source: Wall Street Journal, Daily Caller]
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