UNTOUCHABLE: Federal prosecutors decide not to proceed with a second SBF trial around illegal donations to mostly Democrats

The decision by federal prosecutors not to proceed with a second trial against disgraced FTX founder Sam Bankman-Fried (SBF), who was charged with conspiracy to make unlawful political decisions and bribery of foreign officials, has sparked outrage among conservatives.

In a letter filed in federal court in Manhattan on Dec. 30, federal prosecutors stated that much of the evidence that would be presented in a second trial had already been introduced in the initial proceedings. The prosecutors indicated their intention to proceed directly to sentencing on the counts for which SBF was convicted during the first trial, scheduled for March 28. They also mentioned they could not include the unlawful campaign contribution charge in the extradition agreement with the Bahamas, where SBF was arrested.

“Given that practical reality and the strong public interest in a prompt resolution of this matter, the government intends to proceed to sentencing on the counts for which the defendant was convicted at trial,” the prosecutors said.

The decision quickly drew backlash among conservatives. They claim that the prosecutors lack transparency regarding the alleged political connections and recipients of the donations from SBF.

“So we won’t know which politicians he bribed or whose campaigns he influenced? That collective sigh of relief you are hearing is from the DEEP STATE,” Rep. Tim Burchett (R-Tenn.) wrote on X.

Meanwhile, conservative commentator John Cardillo accused the Department of Justice (DOJ) of shielding Democratic recipients of SBF’s donations. “Sam Bankman-Fried will not face [a] second trial. [The] DOJ is protecting his Dem donation recipients,” Cardillo posted on X.

CryptoLaw founder John Deaton labeled the decision a “disgrace,” questioning the independence of the DOJ and raising concerns about who the Attorney General might be protecting. Turning Point USA founder Charlie Kirk echoed these sentiments, claiming that the case had become too high-profile for the DOJ to ignore.

“The SBF case became too high-profile for the DOJ to completely ignore, but they made sure laundering $100 million of customers’ money to Schumer, Biden, and McConnell and other dark money groups would never blow back on the ‘elite.’ Trump faces 700 years in federal prison, but America’s uniparty cabal just gave themselves a get-out-of-jail-free card. You’re witnessing DC corruption in real-time,” Kirk wrote on X.

Former FTX engineer testified against SBF

In 2021 and 2022, SBF gave around $38 million to different Democratic candidates and political action committees (PACs) focused on preventing future pandemics, with a significant portion going to the Protect Our Future PAC, founded in January 2022.

SBF, accused of stealing from customers of his now-bankrupt FTX cryptocurrency exchange, has been in jail since August due to alleged witness tampering. He was recently found guilty on seven federal charges and his sentencing is scheduled for March 28.

In October 2023, Nishad Singh, a former engineer at the cryptocurrency exchange FTX, testified against SBF. During the trial related to his guilty plea for wire fraud and conspiracy to violate campaign finance laws, the testimony shed light on the alleged misuse of FTX funds. (Related: FTX founder Sam Bankman-Fried donated customer funds to Democrats, former engineer testifies.)

According to Singh, he discovered a financial deficit within FTX in September 2022. Singh revealed that SBF intended to raise additional capital and reduce expenses to address the shortfall. However, Singh claimed that customer funds were used for political donations to Democrats, exacerbating the financial deficit.

The former FTX engineer went on to disclose that he frequently allowed Guarding Against Pandemics, a political action group led by Gabriel Bankman-Fried, the brother of SBF, to use his name for donations from Alameda. A Yahoo Finance report uncovered a Signal group chat where the brothers and their political advisors directed donations in the name of Singh.

“I was a straw donor for campaign donations, knowing that the money for those donations came from customer funds,” stated Singh.

These revelations also offered insights into the spending habits of SBF, as prosecutors presented a spreadsheet from March detailing $1.1 billion in FTX endorsement deals, including naming rights to the Miami Heat’s arena and partnerships with notable figures such as NFL quarterback Tom Brady, model Gisele Bundchen, basketball star Stephen Curry and comedian Larry David.

Prosecutors accused him of misusing billions in FTX customer deposits, deceiving investors and instructing others at his companies to do the same. The charges include two counts of wire fraud and five conspiracy counts, potentially leading to a maximum sentence of 110 years, although sentencing guidelines might recommend less.

Visit BitcoinCollapse.news for more stories about Sam Bankman-Fried.

UNTOUCHABLE: Federal prosecutors decide not to proceed with a second SBF trial around illegal donations to mostly Democrats

Former FTX engineer testified against SBF

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