U.S. Presidential contender Robert F. Kennedy Jr. has voiced his shock and concern over the U.S. government’s decision to withdraw six charges against Sam Bankman-Fried, the embattled founder of crypto exchange FTX.
Presidential hopeful Kennedy Jr. took to X to share his views on the development, highlighting that charges against Bankman-Fried for allegedly donating $100 million in stolen customer funds to various politicians have been dropped.
He emphasized the lack of public surprise at this decision as indicative of a deeper problem of normalized corruption within the U.S. government.
Earlier last year, crypto.news reported on the U.S. government’s campaign finance charges against Bankman-Fried, alleging that he directed two former FTX executives to channel over $100 million to certain political candidates. This was supposedly done to bypass legal campaign limits and support pro-crypto industry politicians.
The indictment from Aug. 14 detailed how Bankman-Fried used his influence to lobby Congress and regulatory agencies for favorable crypto regulations and legislation.
United States prosecutors, led by U.S. Attorney for the Southern District of New York Damian Williams, have decided not to pursue several remaining charges against Bankman-Fried, including foreign bribery, bank fraud, and unlawful political donations.
This decision was partly influenced by a dispute with the Bahamas over Bankman-Fried’s extradition and the fact that evidence for some charges had already been presented during his original trial. Bankman-Fried was found guilty on all seven counts of fraud and conspiracy related to FTX and Alameda Research.
Prosecutors aim to proceed with sentencing in March 2024 without the delays of a second trial, citing the public interest in a timely and just resolution.
Consequently, some details might remain undisclosed, such as the specific role of Thai escorts in Alameda’s strategy to unlock its Chinese accounts. This led to Alameda bribing Chinese government officials, a revelation made in the testimony of Caroline Ellison, the former CEO of Alameda and a key witness in the case.
The crypto community is particularly concerned about the dropped charge of unlawful political donations, given Bankman-Fried’s substantial donations to politicians across the political spectrum.
On Dec. 30, Coinbase’s Chief Legal Officer, Paul Grewal, also took to X to label the decision a “miscarriage of justice,” emphasizing the importance of publicly airing campaign finance charges.
Bankman-Fried is currently slated to receive his sentencing on March 28, 2024.