Ethereum

According to the Wall Street Journal (WSJ), the father of former FTX CEO Joe Bankman, mother Barbara Fried, and brother Gabriel Bankman-Fried were directly involved in illegal financial transactions and funding of various political parties and organizations. The WSJ reports that members of the family of Sam Bankman-Fried spent more than $100 million on various political donations from funds previously belonging to FTX investors. David Mason, former chairman of the Federal Election Commission, noted that if there is strong evidence confirming the Bankman-Fried family’s involvement in an “illegal straw donor scheme,” it could lead to direct legal liability under campaign finance laws. Depending on the severity of the charges, they could be fined up to $100,000 or jailed for up to a year for contributions exceeding established limits or for donating on behalf of others. A New York court announced the verdict in the case of former FTX Group CEO Sam Bankman-Fried on March 28.