Criminal Charges Against Democrat Megadonor Sam Bankman-Fried Unsealed, Faces Life In Prison; Denied Bail | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ryan Saavedra.

    Democrat megadonor Sam Bankman-Fried faces spending the rest of his life behind bars after an eight-count indictment was unsealed Tuesday against him in federal court.

    A Manhattan federal grand jury charged Bankman-Fried, 30, with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance violations, the Department of Justice said in a statement.

    Prosecutors allege that Bankman-Fried misappropriated billions of dollars of customer funds deposited into the cryptocurrency exchange that he founded, FTX, and lied to investors and lenders about the company and about his cryptocurrency hedge fund Alameda Research.

    Bankman-Fried and his co-conspirators were deceiving and conning customers of FTX from the inception of the company, prosecutors said. He allegedly used billions of dollars from customers for his own personal use, to repay loans owed by Alameda Research, and to donate millions of dollars to political campaigns. Bankman-Fried was the Democrats' second largest donor this last political cycle, donating tens of millions of dollars to Democrat candidates and left-wing groups.

    Bankman-Fried also defrauded lenders to Alameda Research and equity investors in FTX by hiding his misuse of customer deposits, prosecutors alleged. Bankman-Fried tried to conceal the millions he gave to politicians by making his co-conspirators make the contributions under their names, say prosecutors.

    Bankman-Fried faces up to 115 years in prison if convicted of the following crimes:

  • Count One: Conspiracy to Commit Wire Fraud on Customers; up to 20 years in prison if convicted.
  • Count Two: Wire Fraud on Customers; up to 20 years in prison if convicted.
  • Count Three: Conspiracy to Commit Wire Fraud on Lenders; up to 20 years in prison if convicted.
  • Count Four: Wire Fraud on Lenders; up to 20 years in prison if convicted.
  • Count Five: Conspiracy to Commit Commodities Fraud, up to 20 years in prison if convicted.
  • Count Six: Conspiracy to Commit Securities Fraud, up to 5 years in prison if convicted.
  • Count Seven: Conspiracy to Commit Money Laundering, up to 5 years in prison if convicted.
  • Count Eight: Conspiracy to Defraud the United States and Violate the Campaign Finance Laws; up to 5 years in prison if convicted.

    A judge denied Bankman-Fried bail due to him being a "great" flight risk.

    "The Justice Department has filed charges alleging that Samuel Bankman-Fried perpetrated a range of offenses in a global scheme to deceive and defraud customers and lenders of FTX and Alameda, the defendant's crypto hedge fund, as well as a conspiracy to defraud the United States government," said Attorney General Merrick B. Garland. "We allege that the defendant conspired to defraud customers by misappropriating their deposits; to defraud lenders; to commit securities fraud and money laundering; and to violate campaign finance laws. As this indictment demonstrates, the U.S. Department of Justice will aggressively investigate and prosecute alleged criminal wrongdoing in the financial system and violations of federal elections laws. We will continue to work to ensure U.S. capital markets operate honestly and with the integrity that investors, lenders, and the American people are entitled to."

poll#169
Considering how abjectly corrupt and civilly abusive the Left has become regarding the corrosive effect of their elected leaders; their entrenched and ruling bureaucracy; employing their failed Education Industry as Indoctrinators; their collusive private sector operators, such as the terminally discredited Legacy Media and Big Tech censorship of Free Speech: What will be the best course forward for hardworking Middle Americans, including the Patriot Class?
  Withdraw from society, go underground and plan for a resurgence when it is feasible to do so.
  Work within the confines of better policy by the People's government, once good sense and sanity is restored in the electorate at large, to achieve such.
  Are you a crazy, nut-job Insurrectionist? Everything is perfect within our plan to achieve our intended goals for the Socialist Left.
  Secession to form a true Constitutional Republic.
180 total vote(s)     What's your Opinion?

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