FTX founder Samuel Bankman-Fried is facing eight felony charges after a Federal Grand Jury indictment was unsealed on Tuesday. The fourteen page indictment includes a “Conspiracy to Defraud the United States and Violate the Campaign Finance Laws.” The indictment states the charge stems from actions taken between 2020 and November 2022.
The indictment states Bankman-Fried and others “knowingly and willfully make contributions to candidates for federal office, joint fundraising committees, and independent expenditure committees in the names of other persons, aggregating to $25,000 and more in a calendar year….”
The indictment states Bankman-Fried made corporate contributions to candidates and committees in the Southern District of New York and elsewhere which “were reported in the name of another person.”
While the other person was not named, Federal elections records show numerous contributions were made to candidates and committees by FTX Director of Engineering Nishad Singh.
Singh’s contributions included $1,000,000 to the Protect Out Future PAC. Bankman-Fried gave $27,000,000 to the same PAC.
Singh gave $40,000 to the Moving Broward Forward PAC as well as contributions to Members of Congress members including Florida Democrats Lois Frankel and Kathy Castor.