FTX Case’s New Update: Bankman Fried’s Political Influence Unveiled

In a surprising revelation, a recent Bloomberg report has exposed the disgraced FTX founder Sam Bankman-Fried’s calendar meetings, unveiling his scheduled meetings with prominent figures, including ex-President Bill Clinton and New York Governor Kathy Hochul. The report also shed light on the cross-examination of Nishad Singh, the former Director of Engineering at FTX, during Bankman-Fried’s trial on Tuesday.

According to FBI special agent Richard Busick’s testimony as a witness, data embedded in the FTX founder’s mobile phone displayed a flurry of engagements involving influential personalities, spanning from June 2021 to November 2022. Most notable among the individuals is Bill Clinton, with whom SBF had a meeting on September 20 at the Hilton Hotel in New York.

Just a few days before the meeting with the ex-president, on September 16, Bankman-Fried met Kathy Hochul. Though the precise location of the meeting was not mentioned, Busack notified that the venue was a hotel, “most likely, Capital Grille on East 42nd Street.”

In addition, the agent presented adequate data revealing Bankman-Fried’s political influence as his calendar showed details of meetings with other influential people, including Mayor Eric Adams, Saudi Arabia’s Minister of Investments Khalid A. Al-Falih, and Saudi Aramco Head Yasir bin Othman Al-Rumayyan.

As per Nishad Singh’s pleading, he had been intimidated and often humiliated by Bankman-Fried. Agreeing to cooperate with the further legal proceedings, Singh pleaded guilty to fraud and conspiracy. He added that he forfeited the Orcas Island property he bought with FTX’s customer funds, stating:

My spending on it was egregious, unnecessary, and selfish. I was embarrassed and ashamed, and forfeiting seems to be one of the ways to right the wrong, at least a little.

Previously, Alameda Research’s former CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to assisting Bankman-Fried in the fraudery. As per a previous report, an FTX attorney Andrew Dietderich claimed that Wang was commanded by Bankman-Fried to create a “secret” backdoor to enable Alameda Research to borrow $65 billion client money from FTX.

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