FTX political donation confiscation case approved by the court to be postponed, prosecutors to investigate the flow of SBF funds

Recently, the US judicial system has made an important decision on a key issue in the FTX bankruptcy case - the confiscation of huge donations from former CEO Sam Bankman-Fried (SBF) to multiple political action committees (PACs). Lewis Kaplan, a judge at the US District Court for the Southern District of New York, formally approved the postponement of the confiscation assessment procedure for SBF's donations to PACs at the request of prosecutor Damian Williams. This decision is intended to give prosecutors more time to comprehensively review and evaluate the legality and rationality of the approximately $40 million in funds donated by SBF to multiple PACs and political candidates in 2022, just before the collapse of FTX.

Specifically, in a document submitted to the court on July 26, Prosecutor Williams clearly stated that his office is actively discussing and investigating with SBF's legal team on the issue of donations to multiple key PACs involving the Democratic Party, including the House Majority PAC, the Senate Majority PAC, FF PAC, FF USA Action, EMILY's List and GMI PAC. This extension, which will extend the deadline for PAC to submit a third-party review request from July 26 to September 13, aims to ensure that the review of all relevant evidence and capital flows can be more detailed and thorough, thus laying a solid foundation for possible subsequent legal actions. This move not only reflects the rigor of the judicial process, but also demonstrates the authorities' firm determination to combat financial crimes and maintain market fairness.

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