Arrested in December 2022, Sam Bankman-Fried (aka SBF) is currently out on bail. Awaiting his trial in October, the charges against him (including those in the FTX case) continue to multiply. The fallen billionaire is currently facing a 13e charge. For the last two charges, he will still plead not guilty.
Case of Sam Bankman-Fried: a brief reminder of the facts
Sam Bankman-Fried was a major donor during the midterm elections in the United States. In an investigation conducted as part of the FTX affair, he admitted this while specifying that he had made contributions to electoral campaigns on both sides of the political spectrum.
In justifying his actions, Sam Bankman-Fried said, “I have supported constructive candidates who are as interested in preventing pandemics as they are in creating a bipartisan climate in DC.” He also clarifies that he has worked with these politicians to support decentralized finance. In addition to campaign funding, Sam Bankman-Fried has donated cryptocurrencies worth millions Republicans in the Senate and House of Representatives.
SBF to plead not guilty to bribery and campaign finance charges
As with the other charges in the FTX case, SBF maintains its innocence. As explained in This article, he will plead not guilty to attempting to violate campaign finance laws in the United States. He will also plead not guilty of corruption with respect to one or more Chinese government officials. SBF is indeed accused of having offered $40 million in cryptocurrency to at least one Chinese official to open his frozen accounts. This after months of unsuccessful attempts to unlock them. With this new indictment, SBF finds itself on 13 counts.
Unless changed, Sam Bankman-Fried’s trial will take place in October. If the founder of the FTX is found guilty on all the charges against him, he risks 100 years imprisonment. To be continued…
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