Sam Bankman-Fried, a Hillary Clinton donor and mega-donor to the Democrat Party, has suddenly had a second trial charging him with unlawful political donations and bribery of foreign officials dropped.
This was after he took part in one of the largest financial collapses in history. The decision to not go after these charges against him comes as a giant surprise to many and critics believe it may have to do with his connections within the Democrat Party.
“Federal prosecutors said Friday that they do not plan to proceed with a second trial against Sam Bankman-Fried, citing public interest in a speedy resolution of the case that has seemingly irritated those who were hoping to see the disgraced FTX founder prosecuted to the fullest extent,” the New York Post reported.
“In a Friday letter filed in federal court in Manhattan, prosecutors said they do ‘not plan to proceed with a second trial’ as ‘much of the evidence that would be offered in a second trial was already offered in the first trial and can be considered by the Court at the defendant’s March 2024 sentencing,'” the outlet added.
(Video Credit: Reuters)
“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,” prosecutors asserted, angering many conservatives and giving a distinct whiff of the Deep State in play.
The backlash to the decision by prosecutors was swift and harsh.
“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-TN) wrote on X.
Conservative commentator John Cardillo, was incensed over the move and accused the Department of Justice of providing cover for Democrats who were named as recipients of Bankman-Fried donations.
“Sam Bankman-Fried will not face second trial,” Cardillo wrote in an X post. “’He had faced six charges that had been separated from his first trial. These included campaign finance violations, conspiracy to commit bribery…’ DOJ is protecting his Dem donation recipients.”
CryptoLaw founder John Deaton hammered the decision as a “disgrace.”
“The DOJ has shown again, that it is NOT an independent agency,” Deaton stated on X. “Who is the Attorney General protecting?”
A disgrace. The DOJ has shown again, that it is NOT an independent agency. Who is the Attorney General protecting? https://t.co/f7G8hdfjvR
— John E Deaton (@JohnEDeaton1) December 30, 2023
Turning Point USA founder Charlie Kirk was even blunter, “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 realtime.”
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… https://t.co/wC2l7ycl7H
— Charlie Kirk (@charliekirk11) December 30, 2023
Bankman-Fried donated almost $38 million to numerous candidates and PACs in 2021 and 2022. His donations primarily went to Democrats and left-wing groups, according to Federal Election Commission filings (FEC).
“The majority of his political givings went to the Protect Our Future PAC, a group founded in January 2022 that is dedicated to boosting candidates who are committed to preventing future pandemics,” the New York Post noted.
“Bankman-Fried, who was accused of stealing from customers of his now-bankrupt FTX cryptocurrency exchange, has been incarcerated since August when a judge revoked his bail for alleged witness tampering. He was found guilty earlier this month on seven federal charges, and his sentencing is slated for March 28,” the outlet stated.
Prosecutors accused Bankman-Fried of misappropriating and embezzling billions of dollars in FTX customer deposits, scheming to mislead investors, and instructing other executives at his businesses to follow his lead.
Sam Bankman-Fried donated $100 million in stolen customer funds to US politicians.
Today, the US Government announced they’re dropping six charges against SBF and will not prosecute him for a political campaign finance violation. pic.twitter.com/7lOJb8F62i
— Watcher.Guru (@WatcherGuru) December 30, 2023
At trial, he faced two counts of wire fraud and five conspiracy counts. The maximum sentence he could get is 110 years in prison. Sentencing guidelines are expected to let him off much easier than that.
“Prosecutors said in their letter Friday that much of the evidence presented during the first trial would have been repeated at a second. They noted that since they ‘proved that the defendant engaged in a scheme to make unlawful campaign contributions, the Court may consider this scheme as relevant conduct at the defendant’s sentencing,'” the New York Post reported.
“Prosecutors also said they were prevented from including the unlawful campaign contributions charge because the extradition agreement with the Bahamas to arrest Bankman-Fried did not include that count,” the outlet concluded.