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Shop NowOne of the top Democrat donors of the recent election cycle has been arrested.
Sam Bankman, the founder of the FTX crypto exchange, was apprehended in the Bahamas.
Bankman was denied bail by a Bahamian judge.
Democrat Hero
Even after the scandal had gone public, some Democrat lawmakers were embracing Bankman as some type of hero.
The 30-year-old scam artist donated millions to high-profile Democrat campaigns before suddenly “losing” $1.8 billion in funds.
Tens of thousands of investors are looking to sue Bankman and his celebrity endorsers.
Bankman, who had amassed a $20 billion fortune riding the crypto boom is now being accused of defrauding his customers by misappropriating funds for investments into his crypto hedge fund.
U.S. Attorney Damian Williams in New York said that the investigation was “ongoing” and “moving quickly.”
During the 2020 campaign, he donated $5.2 million to Joe Biden.
Yet, the White House has not commented on whether the Biden campaign has any plans on refunding that money as part of restitution to investors.
Bankman continues to believe he had no criminal wrongdoing, but he stands to serve 115 years in prison if convicted on current charges.
Source: Washington Free Beacon
