By Curtis Dye
Sam Bankman-Fried, a claimed cryptocurrency fraudster, is charged with multiple additional counts in relation to the collapse of the $250 billion FTX market. This raises the total number of years in prison that might be imposed on him to 155 after including the claims of 300 illegal political contributions.
According to court records filed on Thursday, Bankman-Fried is now charged with 12 crimes, including bank fraud, running an unregistered money transmitter, and making more than 300 illegal political contributions totaling $100 million.
In a fresh indictment filed in federal court in Manhattan, the prosecution accuses him of having a messianic mentality and portraying himself as a “savior” while bragging about FTX’s wealth.
Notable is the expulsion from the Bahamas of the 30-year-old bitcoin trader who was first charged with eight offenses in December. October 2023 has been set aside for his trial. Bankman-Fried is already looking at 115 years in prison while a further 40 years might be added to that sentence if all charges were found to be genuine.
Also read:According to the most recent charges, Bankman-Fried was in charge of sending out “a series of false tweets” in the days before FTX’s collapse. Moreover, he is charged with seeking to pay for political influence inside the Republican and Democratic parties.
The accusations against Bankman-Fried are unsubstantiated, despite the fact that it is claimed that he gave more than 300 illegal political contributions in the US via his ex-bitcoin girlfriend’s trading company Alameda Research.
The prosecution claims that the tens of millions of dollars in donations were illegal since they were made using corporate funds or a fictitious donor’s name. Nonetheless, this often allowed Bankman-Fried to give to politicians in excess of what was allowed.
Prior to the most recent convictions, Bankman-Fried was only charged with conspiring to conduct wire fraud against lenders, customers, and lenders, as well as conspiring to commit money laundering, commodities fraud, securities fraud, and conspiracy to defraud the US and campaign financing laws.
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