According to the Wall Street Journal (WSJ), the father of the former head of FTX Joe Bankman, mother Barbara Fried and brother Gabriel Bankman Fried were directly involved in illegal financial transactions and sponsorship of various political parties and organizations.
The WSJ reports that family members of Sam Bankman-Fried have spent more than $100 million from funds previously owned by FTX investors on various political donations.
David Mason, former chairman of the Federal Election Commission, noted that if there is strong evidence confirming the Bankman-Fried family's involvement in an "illegal scheme of fake donors," this may entail direct legal liability in accordance with campaign finance laws.
Depending on the severity of the charge, they can be fined up to $100,000 or sentenced to up to 1 year in prison for contributions exceeding established limits or for donations on behalf of others.
A New York court announced the verdict in the case of former FTX Group CEO Sam Bankman-Fried on March 28. The ex-cryptomillionaire was found guilty of all charges brought by the prosecutor's office and received 25 years in prison.