The Washington Post reported Friday that three top Democratic campaign arms would set aside more than $1 million in contributions from Sam Bankman- Fried. Money will be returned to FTX customers as part of legal proceedings.
Bankman-Fried was arrested and charged with eight counts, including wire fraud and campaign finance violations.
The DNC is returning $815,000 in contributions since 2020 because of the allegations surrounding Bankman-Fried. As soon as we get proper direction in the legal proceedings, we'll come back.
As soon as we get proper direction in the legal proceedings, we'll come back.
The $103,000 and $250,000 each received from Bankman-Fried will be set aside by the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee.
After a week of revelations into the collapse of Bankman-Fried's FTX and Alameda Research, there are new announcements.
Bankman-Fried is accused of running a massive straw donor scheme. US Attorney Damian Williams said Tuesday that FTX-related donations were faked to look like they were coming from wealthy co-conspirators.
Bankman- Fried gave more than 40 million dollars in personal donations to mostly Democratic campaigns and organizations over the last two years. After FTX went bankrupt, Bankman- Fried gave a similar amount of money to Republican groups.
He told Fong in a phone call that his Republican donations were not light. Reporters don't like donating to a Republican. I didn't want to have a fight with them.
The US Attorney backed up Bankman-Fried's admission that he financed Republicans. Bankman-Fried wanted to buy bipartisan influence and impact the direction of public policy in Washington.
Sam Bankman Fried cheated a million people out of their money.
Democratic candidates have been told to return any money they received from Bankman-Fried. Most Democratic campaigns that received publicly disclosed contributions from Bankman-Fried have promised to return or donate the money to charity, according to CBS News.
The Zebra Coalition, a Florida-based group that helps homeless LGBTQ+ youth, will be receiving Bankman-Fried's donations.
Sam Bankman Fried cheated a million people out of their money. Many of these were working class families that lost their life savings. He donated to my campaign, but I never asked for it.
Since last year, Bankman-Fried has given $5,800 to Sen. Gillibrand (D-NY), Tina Smith (D-MN), Alex Padilla (D-CA), and Bill Cassidy (R-LA)
The elections watchdogs hope that changes to campaign finance disclosure rules will result from Bankman- Fried's scheme. Citizens for Responsibility and Ethics in Washington filed a complaint with the Federal Elections Commission demanding an investigation into Bankman- Fried's donations.
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