National File: The Southern District of New York (SDNY) indictment against Sam Bankman-Fried, or “SBF,” accuses the disgraced FTX founder of violating federal election law. The 14-page indictment also alleges that Bankman-Fried conspired with others to violate federal election laws by making political donations to candidates and fundraising committees between 2020 and November 2022, in excess of federal legal limits and in the names of other people, CNN reported.
A top-ranking FTX executive last month flipped on Sam Bankman-Fried and his allies by tipping off Bahamian regulators about alleged malfeasance, the New York Post reported. That executive was Ryan Salame, who served as co-CEO of FTX Digital Markets prior to its collapse.
Salame told regulators that only three FTX executives had the authority required to approve the cash transfers — Bankman-Fried, FTX co-founder Gary Wang and former director of engineering Nishad Singh.
Bankman-Fried through FTX was one of this past cycle’s top donors and funneled tens-of-millions of dollars to both parties. FTX funds wired to the GOP were almost exclusively given to moderate/anti-Trump candidates and PACs, including sizable donations to both Kevin McCarthy’s Congressional Leadership Fund and Mitch McConnell’s Senate Leadership Fund.
In addition to those donations, FTX through Sam Bankman-Fried wired millions to dark money PACs that were used to attack pro-Trump/America First candidates. According to a Washington Post article from this past October, Kevin McCarthy operated a “secretive” anti-MAGA campaign within the GOP that in part used FTX funds to “systematically weed out GOP candidates who could either cause McCarthy trouble if he becomes House speaker or jeopardizes GOP [establishment] victories.” MORE.
SNIP: Someone should remind MTG about this. She’s out there pimping McCarthy like he’s Obi-Wan Kenobi.
Didn’t that old Ponzi scheme dude die in prison a few years ago?
Can’t recall his name.
But Bankman-Fried’s being charged with violating election law?
Does that have the teeth that Fraud, Embezzlement, Mail and Wire Fraud, &c. has?
So far, no Demonrats who are perpetrating election fraud have gone to jail.
mortem tyrannis
izlamo delenda est …
Jim Geraghty has a good article on National Review today about FTX, and crypto in general. “Investing in Things that Don’t Exist…”
A director of engineering has the authority to approve cash transfers? That seems funny to me.
Pretty much mirrors what I posted when this first broke How much more obvious did it have to be what had been going down?
If any republicans, RINO or otherwise are involved in the scandal, you can be certain that the Southern District of NY will move them to the front and center if the investigation. It’s probably the only reason SDNY even took on the case. Having said that, if this doesn’t convince republican reps to dump McCarthy, nothing will.
Bankman-Fried Madoff. I wonder how many Republican Trump supporters got burned by Bankman? Wonder how they feel about their money being in the hands of liberal communist Democrats? All in the name of altruism! Bankman and his mother were heavy believers in altruism. LMAO! Always for the greater good even if it hurts millions. That’s the Bankman’s-Fried-Madoff excuse. Except, those multi-million dollar mansions he bought, is troublesome for the Bankman’s and their altruism excuse.
Tony R: If this doesn’t convince republican reps to dump McCarthy, nothing will.
Tony R – Perhaps you are misjudging our Swamp Dweller reps. This just might be a resumé enhancer
MTG is pimping McCarthy because Kevin has the goods on her fling with Alex Stein.
My inclination is the other half of the Garbage Pail Kids flipped as well.
You know who wasn’t in on it? The same ones that aren’t in on grooming children. Donald Trump supporters (in other words politicians who did not scheme to scuttle the Trump agenda, which is what the American people voted for) and MAGA Republicans, that’s who.
I said right out of the gate that the Republican establishment, particularly never Trumpers are going to be up to their ears in this. The worthless bastards are nothing if not predictable.
Doesn’t matter. The goal has been met.
Dems control the media. Dems control the country. Reps let them get away with it.
Gee.
McC, McC and McSs
Looks like Baseball and Football Cards REALLY are a better investment than Crypto Accounts on Distant Island Shores that are Not Your Countries.
Ha Ha.
Here, buy these electrons. They represent ones and zeros. Really. The ones and zeros are lined up in very special sequences that are worth a lot of money. Really. You give us your fiat dollars and we give you access to a series of ones and zeros. It’s simple. Oh, and you can give what we call an exchange your fiat dollars and they will reserve your place in ownership of some ones and zeros, kind of like a gold etf. That way you don’t actually have the burden of owning the electrons, you have a claim on the electrons and thus the ones and zeros that are worth so freaking much money you can’t imagine it. Really. Understand, the electrons you bought won’t be the electrons you receive in the end, because electrons are ephemera, use ’em or lose ’em. Happy lucky fun day everyone!
I don’t get why everyone is so wound up over this version of fake money. It’s all fake, and is based on a mutual promise, or some might say, mutual self-delusion. It has govenments trying to harness it, control it, tax it as wealth. So, even they see it as a real thing.