Disgraced FTX CEO Bankman-Fried Has Ties to Biden White House Bloomberg Reports

The Veracity Report

Bloomberg News reporters, Josh Wingrove and Allyson Versprille recently released a bombshell report detailing how FTX officers met with Biden aides, at the White House, at least four times

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It's not new news that Sam Bankman-Fried, hereinafter referred to as SBF, who is the Founder and CEO of FTX, the now collapsed cryptocurrency trading platform, has been accused of conspiring with his own employees as well as those at Alameda Research, the hedge fund that is deeply interwoven to FTX, in a scam to steal invested money and use it to support ultra-lush and lavish jet-set lifestyles.

However, according to this recent release by Bloomberg, we now have solid evidence that SBF and his posse have also been spending some quality time at the White House, meeting with President Biden’s White House Aids, on at least four separate occasions throughout 2022.

According to that Bloomberg report, SBF showed up at the White House and met with top senior White House adviser, Steve Ricchetti. That meeting took place on September 8th, which was just a couple of months before the story of the alleged scam broke and FTX imploded. SBF and his officers also met with Ricchetti, on both April 22nd and May 12 of 2022.

Ricchetti is currently serving as President Biden’s Counsel to the President. During the Obama years, he was then-Vice President Biden’s Chief of Staff and during the Clinton presidency, he was the Deputy Chief of Staff for Operations. As Counselor to the President, Ricchetti mainly serves as a high-level political advisor to Biden. However, Ricchetti isn’t the only one in the Biden Administration that SBF has met with. He also met with Bruce Reed, a senior Biden aide, on May 13th of 2022.

Moreover, in addition to SBF showing up at the White House and meeting with high-ranking Biden officials, his brother, Gabriel Bankman-Fried, apparently had a meeting at the White House in March of 2022, which we now know that SBF didn’t attend.

The current story is that the meetings between the Bankman-Fried brothers and Biden officials were about virus response plans instead of politics, though that story seems likely to change as more details have recently been uncovered showing that SBF was a huge Democrat donor, second only to George Soros for total donations to various Democratic campaigns during the mid-term cycle. Further, we know that Ricchetti serves Biden as a political advisor, not a cryptocurrency, financial, or pandemic adviser.

It has also been shown that all of the White House meetings were conducted before the November midterms and that SBF contributed some $40 million to the election campaigns of numerous Democratic candidates, while also offering less than 10% of that total to a few Republican candidates.

Bankman-Fried is currently awaiting trial on wire fraud and securities charges - charges which brought about the collapse of FTX, the company he now stands accused of treating as his personal piggy bank, not only for himself but for many FTX employees as well.

As far as the accusations against him are concerned, in his federal charging instruments, SBF and his inner circle allegedly siphoned off nearly $2 billion in total from investors who deposited their cryptocurrency holdings with FTX.

According to the reports, in order to attract depositor money, SBF relied on high-profile advertisements and endorsements from well-liked public figures like NFL superstar Tom Brady and the prominent patch adorned to the shirts and jackets of all Major League Baseball Umpires throughout the 2022 baseball season.

SBF was arraigned in New York federal court on January 3rd where he pled not guilty to all charges. If convicted, he faces up to 115 years in prison over his alleged role in the stealing of depositor funds and wire fraud.

He was recently extradited from the Bahamas, where FTX was headquartered, and he was arrested weeks after the FTX collapse. After being processed into a US jail, he was ultimately released on a $250 million bond.

Currently, his trial is set to begin in October of this year, but there’s a very good chance that date will be moved several times before a jury is actually sworn.

Veracity Editor's Note:

This unbiased, non-satirical, fully attributed article was thoroughly researched by our team of fact-checkers and found to be accurate. The sources relied upon for the factual basis of this article were: Bloomberg, New York Post, Fox News, The Associated Press, Reuters, and veracityreport.org.

More information on this and all of our stories are available on our network website veracityreport.org.

This article was compiled and written by Chief Political Correspondent Kurt Dillon – Because the Truth Matters!

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