Bankman-Fried faces 115 years in prison

Prosecutors: FTX Founder Bankman-Fried Made ‘Tens of Millions’ in Illegal Campaign Donations

Federal authorities on Tuesday charged FTX co-founder Sam Bankman-Fried for making “tens of millions of dollars in illegal campaign contributions” to influence policies and laws around cryptocurrency.

Damian Williams, the U.S. Attorney for the Southern District of New York, told reporters Tuesday that Bankman-Fried—sometimes known as SBF—faces charges of wire fraud, conspiracy, and campaign finance violations.

“From 2019 until earlier this year, Bankman-Fried and his co-conspirators stole billions of dollars from FTX customers,” Williams said. “He used that money for his personal benefit, including to make personal investments and to cover expenses and debts of his hedge fund, Alameda Research.”

The Indictment