Gemini co-founder Cameron Winklevoss has called for a renewed investigation into suspended FTX founder Sam Bankman-Fried's alleged campaign finance violations.
Winklevoss emphasized the need for a newly appointed U.S. Attorney General to address the unresolved issues around how the alleged campaign finance violations related to the misappropriated customer funds were handled.
Winklevoss Demands Investigation into FTX-Related Campaign Finance Allegations
In a post published on X on November 23, Winklevoss expressed that he still believes the campaign finance allegations are a significant issue. He pointed out that the Department of Justice led by Merrick Garland did not pursue these allegations because they were not included in the extradition proceedings with the Bahamian government.
According to Winklevoss, the DOJ decided not to pursue the campaign finance violations as part of the prosecution, failing to address this matter.
"Merrick Garland's DOJ did not pursue the campaign finance allegations against SBF because they were not part of his extradition... Since when did paperwork become an obstacle between an indictment and additional charges? Especially when there is $100 million in stolen customer funds involved in alleged campaign finance violations," Winklevoss said.
The federal prosecutors had initially dropped the campaign finance allegations last year due to opposition from Bahamian authorities. These allegations involved over $100 million in political donations from Alameda Research.
The indictment stated that these donations were often made through straw donors or corporate funds, with the aim of bolstering Bankman-Fried's influence in Washington D.C.
The indictment also noted that Bankman-Fried became the top political donor in the 2022 midterm elections. He was reported to have used the funds to curry favor with candidates who could shape legislation favorable to FTX and the broader cryptocurrency industry.
Winklevoss's statements come as other key figures in the FTX collapse are facing the consequences of their actions. Caroline Ellison and Ryan Salame have been sentenced to 2 years and 7.5 years, respectively, while Gary Wang and Nishad Singh avoided jail time by cooperating with prosecutors. Bankman-Fried is currently serving a 25-year sentence for fraud and other crimes.
Meanwhile, FTX has announced plans to implement an approved reorganization strategy starting in January. The exchange's bankruptcy administrators have recovered billions of dollars for creditors and are intensifying efforts to reclaim assets held by other entities.
