Sam Bankman-Fried, the beleaguered FTX founder and former billionaire, allegedly stole $100 million in client funds for political contributions that were used to influence cryptocurrency legislation, federal prosecutors wrote in a superseding indictment.
U.S. attorneys accused Mr. Bankman-Fried, in an amended indictment filed Aug. 14, of using stolen funds for various purposes, including “making lavish” federal campaign contributions and lobbying members of Congress and other high-level government officials “to promote cryptocurrency regulation that would favor his business and personal interests.”
