Sam Bankman-Fried to have campaign donation charge dropped: Prosecutors

The FTX co-founder may be able to face one less charge relating to his alleged mismanagement of the cryptocurrency exchange.

United States prosecutors have signaled they will drop a charge against FTX co-founder Sam Bankman-Fried, which had alleged he conspired to make unlawful campaign contributions.

In a July 26 letter to District Court Judge Lewis Kaplan, U.S. Attorney Damian Williams said the government was informed by The Bahamas that it did not agree to extradite Bankman-Fried on the charge and prosecutors would not carry it forward to trial.

“The Bahamas did not intend to extradite the defendant on the campaign contributions count,” Williams wrote in the letter. “In keeping with its treaty obligations to The Bahamas, the Government does not intend to proceed to trial on the campaign contributions count.”

Bankman-Fried previously contested the charge saying it was made after his extradition from The Bahamas and was not part of the original agreement.

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The government split the charge, alongside others, into a separate trial slated to take place in March 2024. Bankman-Fried also faces a criminal trial in October.

After the charge is dropped the former FTX chief will face 12 charges which include allegations of fraud and fraud conspiracy, money laundering and bribing Chinese officials.

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This is a developing story, and further information will be added as it becomes available.