Sam Bankman-Fried, the founder of one of the world’s most successful cryptocurrency empires, has been hit with an eight-count indictment stemming from allegations of using customers’ funds in violation of federal law. Is this the end of days for this Democratic mega donor despite his ties to Democrat campaigns? All clues point to a dramatic and unexpected downfall – we can only wait in anticipation to find out what will happen next!
A former top executive at crypto exchange FTX.com, Samuel Bankman-Fried (SBF), has been indicted on multiple counts of fraud and conspiracy to commit wire fraud. The most remarkable assertion that the indictment brought forth is his alleged involvement in an attempt to violate campaign finance laws and defraud the United States. Other charges include conspiracy to commit commodities fraud, securities fraud and money laundering from customer deposits with the company. All eight counts could spell years of dire consequence for Bankman-Fried unless further evidence arises or can be presented in court.
Forbes estimates that SBF was worth $26.5 billion before its collapse. Contributing millions of dollars to Democratic campaigns and left-wing causes, he was a prominent DC donor.
The arrest in the Bahamas comes at a convenient time for SBF as pointed out by Stewart Varney this morning. Sam Bankman-Fried’s testimony, says the FOX Business host, would have revealed the true nature of a 30-year-old who ran a giant Ponzi scheme.
In light of the arrest, ZeroHedge Trolled Maxine Waters, telling her to get her funds ready because she was a likely recipient of his campaign donations, which the indictment claims he did in the name of other individuals. A clear violation of FEC regulations.
Meaning her, and countless other democrats, received illegal campaign donations – and they likely knew exactly what he was doing, but looked the other way. Making them all complicit in his crimes.
The arrest of Sam Bankman-Fried, one of the most successful crypto entrepreneurs in the world, is convenient timing at best. Now his upcoming testimony before Congress will not likely reveal his crimes that implicate top Democrats in his wrongdoings – however his donations worth millions of dollars will be brought to light and show just how complicit Maxine Waters and others were in his frauds. This indictment is just the start of uncovering his activities and his criminal actions may expose some highly placed government officials as well.
Let’s continue this conversation, in the comments below.
