Remember how CNBC and all those social influencers were praising Sam Bankman-Fried a few years ago for being the most generous liberal billionaire on the planet?
That aged like milk.
FTX founder Sam Bankman-Fried has been found guilty on all charges related to the collapse of his now-bankrupt cryptocurrency exchange in the first of two criminal trials against the former CEO.
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Prosecutors accused Bankman-Fried, who founded and controlled both FTX and sister hedge fund Alameda research, of misappropriating and embezzling billions of dollars in FTX customer deposits, scheming to mislead investors, and instructing other executives at his businesses to do the same.
In the trial, he faced seven charges: Two counts of wire fraud and five conspiracy counts. The charges combined amount to a maximum sentence of 110 years behind bars. Judge Lewis Kaplan, who presided over the trial, set a sentencing hearing for the morning of March 28.
It only took the jury 5 hours to deliberate in this case, which was no small potatoes. FTX was a mega empire. It had stadiums in Florida with its name.
SBF created a crypto token that people could invest in, then used those investor funds as collateral to borrow billions of dollars that he couldn't pay back, and continued the Ponzi scheme until the whole thing crashed.
Of the billions he stole, large sums went to left-wing politicians in an effort to swing elections.
SBF was the second-largest Democrat donor in the last election cycle.
At the same time, FTX CEO Ryan Salame spent millions (some report as much as $20 million) giving to Republicans, which seems like a fair trade-off until you realize that we don't really live in a time of Democrat vs. Republican but Uniparty vs. Everyone Else.
My two cents? Giving $20 million to some strategic RINOs while promising $1 billion to Dems in 2024 is a pretty great strategy for changing that dEmoCrAcY all the lefties keep crying about. If you can get actual conservatives like Jim Jordan, Rand Paul, Tommy Tuberville, and Mike Lee out of the way in favor of Uniparty squishes, you win the day.
The Twitter account Unusual Whales created these handy charts to show all the Dems SBF donated to:
Many of these politicians never returned the money, meaning a lot of victims of SBF's scam essentially made the donation of their life savings to the Democratic Party's abortion-and-transing-the-kids crusade.
If I were the voters in these districts and my candidates had benefitted from these PAC donations, I'd be calling their offices and hounding them (regardless of party) to see what they did with that money.
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