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SBF prosecutors permitted to show jury evidence of political donations

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A US choose on Tuesday stated prosecutors can talk about Sam Bankman-Fried’s political donations at his upcoming trial, as a result of the contributions are related to the fraud fees confronted by the FTX cryptocurrency trade founder.

US District Choose Lewis Kaplan in Manhattan stated proof of the previous billionaire’s donations have been “intertwined inextricably” with fees he defrauded FTX prospects by stealing billions of {dollars} in deposits.

“Proof that the defendant spent FTX buyer funds on political contributions is direct proof of the wire fraud scheme as a result of it’s related to establishing the defendant’s motive and allegedly fraudulent intent,” Kaplan wrote.

Federal prosecutors initially charged Bankman-Fried, 31, with conspiring to break marketing campaign finance legal guidelines, along with seven different fraud and conspiracy fees stemming from the now-bankrupt FTX’s November 2022 collapse.

They later dropped the marketing campaign finance cost after the Bahamas, the place Bankman-Fried was arrested in December, stated it was not a part of its settlement to extradite him.

Bankman-Fried has pleaded not responsible to all fees. His trial is ready to start out on Oct. 3.

Sam Bankman-Fried
Federal prosecutors in Manhattan had initially charged Sam Bankman-Fried, 31, with conspiring to interrupt US marketing campaign finance legal guidelines.
REUTERS

Earlier than FTX’s demise, Bankman-Fried had been among the many largest donors to Democratic candidates and causes forward of the November 2022 midterm elections.

Prosecutors stated he used $100 million in stolen FTX deposits to fund these donations, which he hoped would spur the passage of crypto-friendly laws.

In his ruling, Kaplan additionally rejected Bankman-Fried’s request to bar prosecutors from telling jurors that FTX had declared chapter and he had resigned as chief govt.

District Judge Lewis Kaplan during a hearing last month.
Proof of SBF’s political donations have been “intertwined inextricably” with fees he defrauded FTX prospects by stealing billions of {dollars} of their deposits, US District Choose Lewis Kaplan stated.
REUTERS

Bankman-Fried has stated FTX legal professionals pressured him to let the trade file for Chapter 11, and that he acquired a proposal for substantial funding shortly thereafter.

Prosecutors stated Bankman-Fried later sought to intrude with the chapter property, and undermine FTX collectors, by transferring belongings to cryptocurrency wallets managed by Bahamian regulators.

Kaplan stated such proof can be related at trial.

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