BREAKING: FTX founder Bankman-Fried made illegal campaign donations totaling in the 'tens of millions of dollars': prosecutors

Attorney Damian Williams said on Tuesday that Bankman-Fried made "tens of millions of dollars" worth of illegal campaign donations.

Roberto Wakerell-Cruz Montreal QC
Samuel Bankman-Fried, the disgraced founder of FTX who was arrested in the Bahamas yesterday, allegedly made "tens of millions of dollars" in illegal campaign donations to the Democrats.

Bankman-Fried, who is accused of defrauding $1.8 billion from his investors, donated millions to the Democrats, having been one of the party's top donors next to George Soros. 

US Attorney Damian Williams said on Tuesday that Bankman-Fried made "tens of millions of dollars" worth of illegal campaign donations, AP reports.

According to Fortune, "30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the party’s second-biggest individual donor in the 2021–2022 election cycle."

His donations totaled a documented $39.8 million. 

He was the largest contributor to the Biden campaign and of the Protect Our Future Pac,  "the political action committee which endorsed Democratic candidates such as Peter Welch, who this week won his bid to become Vermont’s next senator, and Robert J. Menendez of New Jersey, who secured a House seat."

Yesterday, a statement from the Attorney General of the Bahamas confirmed that the disgraced former billionaire had been arrested. The statement, from the office of Sen. Ryan Pinder, said: "On 12 December 2022, the Office of the Attorney General of The Bahamas is announcing the arrest by The Royal Bahamas Police Force of Sam Bankman-Fried ("SBF"), former CEO of FTX. SBF's arrest followed the receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.

Bankman-Fried has hired Mark S. Cohen, who recently defended Ghislaine Maxwell in her sex trafficking trial, as his defense attorney. Cohen is also a former assistant United States attorney for the Eastern District of New York.

This is a breaking news story and will be updated.

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