TechFlow reports that on July 26, U.S. District Judge Lewis Kaplan of the Southern District of New York granted the Department of Justice's request to extend until September 13 the deadline for assessing the forfeitability of former FTX CEO Sam Bankman-Fried’s (SBF) donations to various political action committees (PACs).
These PACs, primarily aligned with the Democratic Party, include the House Majority PAC and Senate Majority PAC. SBF reportedly donated approximately $40 million directly to political candidates and PACs in 2022.
During his 2023 criminal trial, SBF claimed these political contributions originated from "loans from Alameda Research" and were intended to influence U.S. government cryptocurrency policy.
SBF has been sentenced to 25 years in prison and is currently serving his sentence at the Metropolitan Detention Center in Brooklyn. His legal team filed an appeal in April. Former FTX executives Nishad Singh and Gary Wang are scheduled to be sentenced in October and November, respectively.
