Sam Bankman-Fried, the bad boy of cryptocurrency crime and illegal Democratic Party and candidate donations, will appear in a Manhattan courtroom on Jan. 3, before U.S. District Judge Ronnie Abrams.
Bankman-Fried founded FTX, a cryptocurrency exchange, in 2019. He gave away hundreds of millions of dollars to Democrat candidates and causes. By the end of 2022, he was in jail for essentially stealing the investments of thousands of cryptocurrency pioneer investors, laundering the money through a sub-company called Alameda Research, and giving it to political entities on the Left, likely influencing the outcome of 2022 elections, and possibly the control of the U.S. Senate because the of the sheer size of the resources he made available to Democrats.
While Bankman-Fried funded mostly Democrats, including the Alaska Democratic Party, he also funded the campaign of Sen. Lisa Murkowski, a liberal Republican who has represented Alaska in Washington D.C. since 2002. He admitted to making other secret donations to political action committees that were backing various candidates.
Bankman-Fried, who was arrested in the Bahamas, was released from jail on a $250 million bail and placed on home detention at his parents’ house in Palo Alto, California, as he awaits trial.
The Jan. 3 hearing is not the trial itself. At the hearing, Bankman-Fried is expected to plead not guilty on eight charges, which include federal crimes such as wire fraud, conspiracy to commit wife fraud, securities fraud, money laundering, defrauding the Federal Election Commission and campaign finance violations.
“The charges in the Indictment arise from an alleged wide-ranging scheme by the defendant to misappropriate billions of dollars of customer funds deposited with FTX, the international cryptocurrency exchange founded by the defendant, and mislead investors and lenders to FTX and to Alameda Research, the cryptocurrency hedge fund also founded by the defendant. Bankman-Fried was arrested yesterday in the Bahamas on these charges and will be presented before a Bahamian magistrate judge today,” the Dec. 13 indictment alleged.
“One month ago, FTX collapsed, causing billions of dollars in losses to its customers, lenders, and investors. Now, a federal grand jury in New York has indicted the former founder and chief executive officer of FTX and charged him with crimes related to the phenomenal downfall of that one-time cryptocurrency exchange, including fraud on customers, investors, lenders, and our campaign finance system. As today’s charges make clear, this was not a case of mismanagement or poor oversight, but of intentional fraud, plain and simple,” U.S. Attorney Damian Williams said in the indictment.
Bankman-Fried made “millions of dollars in political contributions funded by Alameda Research to federal political candidates and committees in advance of the 2022 election. To conceal the fact that those contributions were paid for using funds from a corporation and to evade contribution limits and reporting requirements, Bankman-Fried caused contributions to be reported in the names of co-conspirators rather than in the name of the true source of the funds,” the indictment revealed.
The judge in the case was appointed by former President Barack Obama. Judge Ronnie Abrams is the daughter of legendary attorney Floyd Abrams, who represented The New York Times during lawsuits involving the Pentagon Papers. The Pentagon Papers, officially called the Report of the Office of the Secretary of Defense Vietnam Task Force, was an official Pentagon classified report of the United States’ secret military involvement in Vietnam from 1945 to 1967, spanning presidencies of Harry S. Truman to Richard Nixon.
The Pentagon Papers had been leaked to the New York Times and the Washington Post, but the matter was being held up by the U.S. Supreme Court, which was deciding whether the newspapers could print the classified documents.
Meanwhile, U.S. Sen. Mike Gravel of Alaska received a separately leaked copy of the Pentagon Papers from Daniel Ellsberg and read it into the Congressional Record, essentially making the contents a public document that could be printed by anyone.
Crypto-con Sam Bankman-Fried arrested on the eve of his testimony before congressional committee
Read the indictment: Did Bankman-Fried’s money-laundering operation buy Alaska’s congressional seat?
Every American should be watching this as if he is not convicted and the money not found then take a look at the government and the thief of money. The picture is clear and outcome should be clear but watch Murkowski, and all the crooks calling themselves legislators and non profits steel the money and nobody is in jail… just like Alex Baldwin.
Lisa, re-elected by illegal campaign contributions from stolen cryptocurrency funds that was poured into the Democratic Party political action committees to re-elect Lisa Murkowski. Heck, how do you think I got elected into the US Senate back in 1980? We Murkowskees know a thing or two about banking.
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She’s a chip off the old block
Your false identity fraud is disturbing. Trolls from either side are just trolls.
Right, Frankie. Lisa’s IQ and failed bar exams pretty well prove the truth of the matter.
If the Democrats had wanted to get even with you for spoiling Dr. Glenn Olds chances in 1986, they should have backed Kelly Tshibaka last November. But you know, us Murkowskees are feeling pretty comfortable with our new found Democrat friends. Sure beats having to pay back all of that stolen money to Republicans. I don’t even miss the teas anymore.
Pappa Frankie always told us, “To hell with politics, let’s just do what right for the Murkowskees.”
Yep. Murkowskis have been gaming Alaskans for 42 years. Lisa will be 70 when the next election is held. Add up all of that income from her dad Frank, as US Senator for 22 years, then governor for another four. Then add up Lisa’s income as US Senator for 20 years. Then, add up Frank’s pension from the Senate and the State of Alaska over the past 20 some years. It’s in the tens of $millions of dollars. No wonder Frank and Nancy still supported their communist, Democrat daughter Lisa in 2022. The Murkowskis’ have become fabulously wealthy on government money, no matter how much we despise them. Maybe Alaskans really aren’t so bright. And the Murkowskis are laughing all the way to the bank. Twice.
The Murkowskis aren’t welcome on much of Alaska’s soil anymore. And they know it. The family name is quite blemished from here on.
Correct, Vern. Frankie actually counterfeited that line from Ted Stevens, during one of Frankie’s more lucid moments. There weren’t many of those during Frankie’s political career. The most memorable was when he learned he was about to get a Lear Jet while governor. He kept asking for one that went faster than the oil company executive jets. He wanted to wave at them.
Yeah, and the executives wanted to moon Frankie. Someone ended up with Frankie’s old jet, which was sold on eBay for a song. They should put that jet on static display at the Museum of the North, as a testament of the Murkowski family greed.
I’m sorry, but there is an error in this article. The author referred to Princess as a Republican.
She represents the Murkowski Party. Constituency of her.
Sam Bagman-Fried
“ bad boy of cryptocurrency ”
Or just a useful “tool”
Don’t be surprised when DOJ/FBI surmise all said and done…….
“ We feel that Fried honestly didn’t know what he was doing was illegal”
It’s like playing whack-a-mole with the democrats. Game board is 50 states large. And only one mallet being swung.
Don’t have as much of a problem with the donation, it’s not news that Lisa was financed by the left. But she should return that money at the earliest convenience to help repay those unwise investors, to include the PFD fund investors, who were duped. And that goes for anyone else who received campaign funds from this crook. To put it in perspective, if you were to receive a large amount of money from a bank robbery, it would not be considered yours to keep. Dirty money. Doesn’t matter how you spent it.
Mine wasn’t a gunpoint robbery Mr. TRIG. My customers just didn’t know the difference between long-term lending and illusory promises.
And yes, I spent it well. All on myself.
Why did FTX wait until after the elections were done before filing for bankruptcy? Is the timing another red flag of intent? Could the campaigns have gone another direction if the truth was told earlier?
What difference does it make, now.
The big difference is a separate judicial system that only caters to people with hyphenated last names. Don’t believe me? Look at what happens to SB-F vs Bernie Madoff. Who were the victims of the crimes each of them committed? Who got bail, who didn’t? Who’s lawyer got dismissed for receiving “unauthorized donations”? Why did this comment get flooded by the diehards from ADN for mentioning this?
Does that expose Princess under the RICO Act??
Minor accounting errors are larger than FTX’s contribution when compared to thetotal $$$$’s spent on Murkowski’s re-election. Closer to 180 degrees of separation than six.
“Bankman-Fried, who was arrested in the Bahamas, was released from jail on a $250 million bail and placed on home detention at his parents’ house in Palo Alto”
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The fraudulent and intentional mishandling of this case has already started.
Q: What’s the likelihood that his parents home or other assets were worth greater than $250mm?
A: Almost zero
Q; What’s the likelihood that a friend in the justice system has inappropriately influenced bail?
A: Extremely likely
Q: Who was the judge that altered the bail, under what pretense and on how many levels do they share sympathy or an affinity for Sammy?
A: I don’t know… but it’s as plain as day that there’s a conflict of justice in the process already and the trial hasn’t even started.
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