Sam Bankman-Fried is suspected of a political scam worth millions of dollars

In early November, it became known that the bankrupt cryptocurrency exchange FTX «donated» more than $ 70 million to political campaigns during the 2021/2022 US election cycle. Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Bankman-Fried himself spent almost 40 million to sponsor Democratic campaigns during the 2022 midterm elections.

Against the backdrop of problems with the cryptocurrency exchange, US senators are demanding reporting on Bankman-Fried's donations, including from President Joe Biden. Josh Hawley, a member of the Senate Judiciary Committee, sent a letter to senior Biden administration officials asking for «information and correspondence regarding Sam Bankman-Fried's generous donations.»

Josh Hawley fires warning shot to top Biden admin regulators over FTX collapse: 'Provide all correspondence' https://t.co/ZXFZdiOQuT #FoxBusiness

— Josh Hawley (@HawleyMO) November 18, 2022

TheFTX coll apse occurred immediately after the midterm Senate elections, which raised a number of suspicions about the external financing of political campaign funds. Federal regulators and law enforcement agencies stated that they «faced a conflict of interest in identifying, investigating, and disrupting the Sam Bankman-Fried fraudulent scheme.»

The Missouri Republicans sent an official letter to the US government outlining the political implications of such transactions. The letter reads: «The success of Mr. Bankman-Fried's criminal activities briefly made him one of the richest men in America. He channeled his ill-gotten gains into the service of the Democratic Party, becoming in recent years the second largest individual donor after George Soros. As a result, billions of dollars have been stolen from investors and given to Democrats.»

In addition, the Republicans asked the US Department of Justice, SEC and CFTC to provide information and correspondence between the Democrats and the head of FTX by November 25, 2022. Currently, the US Democratic Party’s funding has been significantly reduced.

The former FTX CEO has been subjected to a barrage of harsh criticism. Last week, the current CEO of the crypto exchange, John Ray, said during a court hearing that the FTX collapse was an «unprecedented situation» in which the blame lies with Sam Bankman-Fried and his team — «a small group of inexperienced and potentially compromised individuals.» Ray suggested that a significant portion of FTX’s assets may have been stolen altogether. He also asked the court to conduct a public investigation into his claims against Sam Bankman-Fried.