Sam Bankman-Fried, infamous for his role in the collapse of FTX that caused huge losses for cryptocurrency investors, already faced numerous fraud and conspiracy charges for stealing from customers. Now federal prosecutors in New York have indicted Bankman-Fried for making unlawful political donations. The alleged scheme involved “siphon[ing] off FTX’s customer funds and deploy[ing] them for political causes” using shell donors.
Vox reporter Andrew Prokop identifies one of those shell donors as Nishad Singh, a former FTX executive who plans to plead guilty to fraud. Per Vox: