Sam Bankman-Fried, founder of cryptocurrency exchange FTX, has had his bail revoked and been jailed ahead of his trial in October. The move follows allegations that he used customer funds stolen from sister company Alameda Research to make over $40m in donations to politicians, with prosecutors suggesting he aimed to use that influence to lobby for favorable legislation. Bankman-Fried, who was once believed to have a fortune worth $26bn, faces charges of wire and securities fraud, as well as money laundering. He is alleged to have attempted to influence public opinion by leaking his former girlfriend’s private diaries to a journalist.
Source: https://coinpedia.org/crypto-live-news/ftx-founder-jailed-for-misusing-funds-for-political-donations/