US Government Drops Campaign Finance Case Against SBF

The US Department of Justice (DoJ) has recently filed a court document stating their intention to drop the campaign finance charge against Sam “SBF” Bankman-Fried, the founder and ex-CEO of the now-defunct cryptocurrency exchange FTX.

US Attorney Damian Williams explained in a letter to the court that, in compliance with its treaty obligations with The Bahamas, the government will not be proceeding to trial on the campaign contributions count. The decision was made after considering the extradition document and consulting with The Bahamas regarding the specific charge related to campaign contributions.

SBF’s Legal Team Claims a Small Victory

At first, the DoJ planned to pursue the campaign finance charge against SBF. However, the court has now allowed the DoJ to drop the charge. SBF’s legal team argued in court that, according to the extradition treaty between The Bahamas and the United States, The Bahamas must consent to the charges since SBF was initially arrested there.

According to a letter from the DoJ, The Bahamas informed the United States that it did not plan to extradite SBF on the campaign contributions count. As a result, in compliance with its treaty obligations with The Bahamas, the US government will not proceed to trial on that count. 

The court has set a schedule for both parties to submit written arguments on the issue and has also issued a temporary gag order, prohibiting SBF from making any public statements.

SBF is currently facing several charges, including one related to campaign finance contributions, as he awaits his trial in October. He has disputed the validity of five of the charges, stating that they were not included in the extradition agreement that brought him back to the US. 

As a result, the government has separated these charges into two different cases. Another charge related to campaign funding has also been contested by SBF, which claims it should be withdrawn because it was not included in the official paperwork approving his extradition from The Bahamas.

Typically, an individual can only be charged for the crimes for which they were extradited, but prosecutors have asserted that they could bring new charges with The Bahamas’ approval. However, The Bahamas has now informed the US government that they do not intend to extradite SBF for the campaign contribution charge.