The parent company of FTX US gave $1 million to a super PAC linked to Senate Minority LeaderMitch McConnell just weeks before the company filed for Chapter 11.
The Senate Leadership Fund has a political action committee. According to Open Secrets, the biggest spender in the election was the McConnell-aligned super PAC.
The payment was made by a company called FTX US. The U.S. operation, which had been one of the largest financial exchanges in the world, filed for Chapter 11.
The Washington Post said the collapse of FTX was one of the fastest meltdowns of wealth in modern history. Sam Bankman-Fried, the American CEO of FTX, lost his personal fortune in a week.
More than a million people have lost money, according to lawyers. More than $3 billion in losses is being faced by the top 50 creditor.
Bankman-Fried, who resigned earlier this month, had treated the company as his personal fiefdom, according to the Post. He said that the emperor had no clothing.
Executives at the FTX companies had easy access to customer accounts. The Post said that only a fraction of clients money has been secured.
John Ray III, FTX's new chief, said in a bankruptcy filing that he had never seen such a failure of corporate controls. One of America's worst corporate frauds was overseen by Ray.
Bankman-Fried, who founded FTX, gave close to $39 million to Democratic candidates in the elections. Ryan Salame, one of his lieutenants, gave over twenty million dollars to Republicans.
The Congressional Leadership Fund was given $750,000 by FTX US, as well as $150,000 by the AmericanPatriot, and $100,000 by the Alabama Conservatives Fund.
It is not clear if any of the money could be clawed back.
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