Pro-Bitcoin presidential candidate Robert F. Kennedy Jr. has weighed in on what could be the reason behind the US government dropping six charges against FTX founder Sam Bankman-Fried (SBF). The politician suggested that there could be other motivations for this decision besides the reason that the prosecutors gave.
Corruption Could Be Reason Behind Dropped Charges In a post on his X (formerly Twitter) platform, Kennedy hinted that the corruption in the system was the reason why the US prosecutors opted against a second trial for SBF. According to him, this corruption is an even bigger issue than the fraud the FTX founder committed, as this is something that has become “normalized.”
As a result of this, the presidential candidate wasn’t surprised by the dropped charges since this can be expected from a government that he alleges is corrupt. Interestingly, one of the six charges that was dropped includes his alleged violation of campaign finance rules. SBF was accused of making $100 million in campaign contributions and using straw donors to do this.
Then, Bankman-Fried was said to have made these donations to curry political favors. If Kennedy’s recent statement is anything to go by, then the FTX founder could have used his connections with these politicians to make the second trial go away. However, the government stated that they made this decision in the interest of the public.
In the letter sent to Judge Lewis Kaplan, the Department of Justice (DOJ) said that the “public interest in a prompt resolution of the matter outweighs the interest in holding a separate trial.” They also alluded to how a second trial will also cause delays in restitution for victims of Bankman-Fried’s crimes.
What Next For Sam Bankman-Fried? The FTX founder’s sentencing is still scheduled for March 28, 2024. Legal experts Sam Enzer and Rich Cooper had previously weighed in on how many years he is likely to get. Both of them agreed that SBF would get over 20 years in prison. However, they don’t see the maximum sentence of 110 years being meted out to him.
One factor that Judge Lewis Kaplan is likely to consider is Sam Bankman-Fried’s age and the fact that he can still be reintegrated into the system. Assuming he is sentenced to about 30 years in prison, Bankman-Fried could be out by the time he clocks 60 years.
Meanwhile, considering Kennedy’s theory, there is the possibility of Sam Bankman-Fried getting a much lesser sentence than expected. So far, Judge Kaplan has, however, shown not to be intimidated by any political connections that he might have. Interestingly, most of the pre-trial rulings went against Bankman-Fried, as Judge Kaplan didn’t seem to give much leniency to the defense.
Featured image from OpenSecrets, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.