Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange, will not face a second trial on separate charges in the case, including campaign finance violations.
In a letter filed on Friday night in federal court in Manhattan, prosecutors said the ‘strong public interest’ in a prompt resolution of their case against the 31-year-old former billionaire outweighed the benefits of a second trial. . . .
According to a superseding indictment, Bankman-Fried ‘misappropriated and embezzled FTX customer deposits,’ including more than $100 million spent ‘in campaign contributions to Democrats and Republicans to seek to influence cryptocurrency regulation.’
The indictment also alleged that Bankman-Fried concealed the source of campaign donations by making them in the names of various FTX executives, including former engineering director Nishad Singh.