U.S. Presidential contender Robert F. Kennedy Jr. has voiced his shock and concern over the U.S. authorities’s determination to withdraw six prices in opposition to Sam Bankman-Fried, the embattled founding father of crypto trade FTX.
Presidential hopeful Kennedy Jr. took to X to share his views on the event, highlighting that prices in opposition to Bankman-Fried for allegedly donating $100 million in stolen buyer funds to varied politicians have been dropped.
He emphasised the shortage of public shock at this determination as indicative of a deeper drawback of normalized corruption throughout the U.S. authorities.
Earlier final yr, crypto.information reported on the U.S. authorities’s campaign finance charges in opposition to Bankman-Fried, alleging that he directed two former FTX executives to channel over $100 million to sure political candidates. This was supposedly executed to bypass authorized marketing campaign limits and assist pro-crypto business politicians.
The indictment from Aug. 14 detailed how Bankman-Fried used his affect to foyer Congress and regulatory companies for favorable crypto rules and laws.
United States prosecutors, led by U.S. Lawyer for the Southern District of New York Damian Williams, have determined not to pursue several remaining charges in opposition to Bankman-Fried, together with international bribery, financial institution fraud, and illegal political donations.
This determination was partly influenced by a dispute with the Bahamas over Bankman-Fried’s extradition and the truth that proof for some prices had already been introduced throughout his unique trial. Bankman-Fried was found guilty on all seven counts of fraud and conspiracy associated to FTX and Alameda Analysis.
Prosecutors intention to proceed with sentencing in March 2024 with out the delays of a second trial, citing the general public curiosity in a well timed and simply decision.
Consequently, some particulars would possibly stay undisclosed, comparable to the precise position of Thai escorts in Alameda’s technique to unlock its Chinese language accounts. This led to Alameda bribing Chinese language authorities officers, a revelation made in the testimony of Caroline Ellison, the previous CEO of Alameda and a key witness within the case.
The crypto group is especially involved concerning the dropped cost of illegal political donations, given Bankman-Fried’s substantial donations to politicians throughout the political spectrum.
On Dec. 30, Coinbase’s Chief Authorized Officer, Paul Grewal, additionally took to X to label the choice a “miscarriage of justice,” emphasizing the significance of publicly airing marketing campaign finance prices.
Bankman-Fried is at present slated to obtain his sentencing on March 28, 2024.