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Freedom Works economist Stephen Moore discusses what will happen to the campaign donations former FTX CEO Sam Bankman-Fried gave to politicians on ‘Varney & Co.’
FTX founder Sam Bankman-Fried landed back in the United States Wednesday night following his extradition from the Bahamas, as he faces multiple criminal charges.
The cryptocurrency exchange founder landed in New York shortly after 10 p.m.
He was seen walking away from the tarmac surrounded by law enforcement officials before he was placed into an SUV and rode off in a caravan of vehicles.
A photo illustration of FTX co-founder Sam Bankman-Fried being escorted out of the Magistrate’s Court on December 21, 2022 in Nassau, Bahamas and a caravan of vehicles carrying Bankman-Fried at the Westchester Airport in White Plains, NY on Dec. 21, ( Joe Raedle/Getty Images/Fox News / Getty Images)
Bankman-Fried faces multiple charges from the Southern District of New York and the Securities and Exchange Commission, including conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to defraud the Federal Election Commission and commit campaign finance violations.
FTX FOUNDER SAM BANKMAN-FRIED AGREES TO BE EXTRADITED TO US, WHERE HE FACES CRIMINAL CHARGES
His extradition to the U.S. was ordered by a Bahamas judge and agreed to by the 30-year-old suspect as part of a “desire to make the relevant customers whole,” Reuters reported.
FTX founder Sam Bankman-Fried, center, is escorted from a Corrections Department van as he arrives at the Magistrate Court building for a hearing, in Nassau, Bahamas, Wednesday, Dec. 21, 2022. (AP Photo/Rebecca Blackwell / AP Newsroom)
Officials with the FBI and U.S. Marshals Service arrived in Nassau, the capital and largest city of the Bahamas, on Wednesday morning, Reuters reported, citing a person familiar with the matter.
WHAT BANKMAN-FRIED’S ATTORNEYS WILL LIKELY ARGUE IN HIS DEFENSE
Bankman-Fried also faces accusations of allegedly using FTX funding for “his personal use to make investments and millions of dollars of political contributions to federal political candidates and committees and to repay billions of dollars in loans owed by Alameda Research, a cryptocurrency hedge fund also founded by the defendant,” the Department of Justice said.
FTX, once a premier cryptocurrency exchange, filed for Chapter 11 bankruptcy in November along with Alameda Research, West Real Series and 130 affiliated companies.
Samuel Bankman-Fried leaves Magistrate Court, Nassau Bahamas, on Tuesday. The FTX founder is charged with eight counts of conspiracy and fraud of investors in his failed crypto exchange, according to indictment on Tuesday. | Fox News
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Bankman-Fried subsequently stepped down from the role as CEO.
He was later found in the Bahamas and was charged for his alleged involvement.
Fox News’ Greg Norman contributed to this report.
