Former billionaire and FTX cryptocurrency exchange founder, Sam Bankman-Fried, has been charged with using stolen customer funds to make over $100 million in campaign contributions. According to federal prosecutors, Bankman-Fried directed money from FTX's sister trading firm, Alameda, to be wired into FTX executives' personal bank accounts, who then made donations in their own names. This allegedly allowed Bankman-Fried to evade restrictions on certain types of political contributions and maximize FTX's political influence. The indictment also claims that Bankman-Fried used his political connections to lobby for legislation and regulations that would benefit FTX.

Bankman-Fried, who was once one of the biggest political donors in Washington, made more than $40 million in donations in 2022. While most of these donations were to Democrats, he claimed to have donated equally to Republicans through undisclosed "dark" donations.

Bankman-Fried's personal fortune was once estimated at $26 billion. He has previously pleaded not guilty to charges of conspiracy and fraud over the collapse of FTX. However, the campaign finance law violation charge was dropped after the Bahamas, where he was arrested in 2022, indicated that they would not extradite him on that charge.

Bankman-Fried now faces seven counts, including fraud and money laundering charges, and is set to go to trial in October.