Daily Caller News Foundation
A jury found disgraced cryptocurrency tycoon and Democrat megadonor Sam Bankman-Fried guilty of fraud-related charges on Thursday.
Bankman-Fried co-founded and served as CEO of cryptocurrency exchange FTX, which collapsed in November amid allegations the company was mishandling billions in customer funds. The Department of Justice indicted Bankman-Fried on seven fraud and conspiracy-related charges in August, alleging he masterminded a scheme to divert the money to fund campaign contributions, donations to charities and real estate acquisitions.
The jury found Bankman-Fried guilty on all seven charges, reaching the verdict after around four hours of deliberations, according to The Messenger. Four of the charges have potential prison sentences of up to 20 years each, but the judge will make the final decision on sentencing.
The government gave its second closing statement, saying that, even if you believe Sam Bankman-Fried‘s testimony, then he himself has proved that he’s guilty 👀
The judge is currently reading the jury their instructions, and deliberations will likely begin between 2-2:30pm ET ⏳ pic.twitter.com/dSNPl5Y72D
— Laura Shin (@laurashin) November 2, 2023
The Democrat megadonor’s trial began in October and he has been in jail since August after the judge presiding over his case revoked his bail due to alleged witness tampering. Before that, he was under house arrest at his parents’ California home on a $250 million bond after the Bahamas extradited him to the U.S.
Bankman-Fried donated nearly $39 million to back Democrat-aligned causes and was the second-largest individual contributor to such groups during the 2022 midterm election cycle.
The former cryptocurrency CEO “misappropriated and embezzled FTX customer deposits, and used billions of dollars in stolen funds for a variety of purposes, including … to help fund over a hundred million dollars in campaign contributions to Democrats and Republicans to seek to influence cryptocurrency regulation,” according to the August indictment against him.
Caroline Ellison, Bankman-Fried’s ex-girlfriend and former CEO of Alameda Research, which is the sister hedge fund to FTX, testified that he instructed her to commit fraud regarding FTX and Alameda’s relationship. She asserted that he established a system to permit Alameda to withdraw unlimited funds from FTX.
“As a result of the spending of customers’ deposits, FTX and Alameda had a multi-billion-dollar deficit of customer funds,” the indictment states.
Bankman-Fried allegedly believed he had a 5% shot of becoming president at some point, Ellison testified.
This story originally was published by the Daily Caller News Foundation.
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected].
IMPORTANT NOTE TO WND READERS: "Our country is going communist!" warned Donald Trump recently. "It's going Marxist, it's going REALLY bad." He added, "The PEOPLE of our country aren't that way – but the people RUNNING it are." Is this just election-season bluster and hyperbole, or can the utterly unthinkable be true?
Incredibly, it is true. In 2023 America, the Democratic Party – its agendas, its core values, its wall-to-wall dishonesty, and its audacious and utterly ruthless methods – are virtually indistinguishable from those of modern-day communists. Compare the Communist Party USA's website, CPUSA.org (where the featured top-of-page story is about "TRANS RIGHTS"), with the Democratic National Committee's website, Democrats.org, and try to discern any substantive difference.
America's plunge into atheistic Marxism in virtually every area of life – from weaponizing government and courts to destroy critics and political opponents, to crushing free speech, to corrupting and brainwashing the nation's children, and much much more – is all stunningly explored in the October issue of WND's critically acclaimed Whistleblower magazine, titled "AMERICA'S COMMUNIST REVOLUTION: How the freest nation in history is rapidly becoming a Marxist police state." Beyond exposing the Marxist takeover of America's key institutions, this explosive special report goes on to reveal how Marxism/communism is ACTUALLY A MAJOR WORLD RELIGION, albeit a false and malevolent one. It unearths what REALLY motivates the "high priests" of this truly dark atheistic faith, which has captivated untold millions and murdered millions more. And it vividly illustrates exactly how and why citizens of the greatest nation in history are now experiencing – to quote Barack Obama's words – "a fundamental transformation of the United States of America." This Whistleblower issue is a crucial wake-up call for all Americans. WHISTLEBLOWER is available in both the popular print edition and a state-of-the-art digital version, either single issues or discounted annual subscriptions.
For 25 years, WND has boldly brought you the news that really matters. If you appreciate our Christian journalists and their uniquely truthful reporting and analysis, please help us by becoming a WND Insider!