How many members of the US Democratic Party and Campaign Committee Donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive at the collapsed cryptocurrency exchange are reportedly being investigated by federal prosecutors. Bankman-Fried Arrest The U.S. District Attorney later said, “We ask that any individual, entity, or political campaign that has received stolen customer money work with us to return that money to the innocent victims.” said.
Federal Prosecutor Sam Bankman Investigates His Freed Political Contributions
US District Attorney’s Office for the Southern District of New York Investigates Sam Bankman’s Unlawful Campaign Contributions reportedly started. Freed (SBF) and his two other former FTX execs.
After Bankman-Fried’s arrest in the Bahamas last week, the District Attorney’s Office announced that the party’s official campaign office, several of his major PACs, and several individual campaigns, including Sent an email to the Democratic Party political organization. Some politicians, including Rep. Hakeem Jeffries (D-NY).
The emails solicited information about donations from SBF, his colleagues and companies, The New York Times reported Saturday, citing people familiar with the request. called the FTX scandal “the biggest campaign finance scandal in years,” and the Justice Department investigation “appears to be an effort to gather evidence against Bankman-Fried and other former FTX executives.” I see. To the individual, organization, or political movement that received the money of the stolen customer, please work with us to return that money to the innocent victim.
Last week, one of the official charges uncovered by federal prosecutors after SBF’s arrest was conspiracy to commit campaign finance violations. The former FTX CEO was the second largest campaign donor in 2020, donating nearly $45 million to mostly Democratic campaigns and committees, the publication said. In an interview before his arrest, Bankman-Fried claimed to have donated the same amount of black money to Republicans. Tesla CEO and he Twitter boss Elon Musk believes the former FTX boss donated more than $1 billion of his to the Democrats.
Federal Election Commission rules state that even if the donation has already been used and new funds need to be raised, the donation may be refunded if it is later determined to be illegal. need to do it.
Another former FTX executive, Nishad Singh, also donated nearly $9.7 million, mostly to Democratic candidates and groups, the news outlet noted. Prosecutors are also reportedly investigating donations to Republican campaigns and committees by Ryan Salame, another former FTX executive who donated $24 million primarily to Republican candidates and committees.
Former Federal Election Commission member and current Democratic campaign adviser Karl J. Sundstrom told the publication that the FTX case could :
The biggest corporate conduit incident we had.
FTX filed for bankruptcy on his November 11th, with an estimated 1 million customers and investors losing billions of dollars in the collapse. The US government and regulators have filed multiple fraud charges against the cryptocurrency company and his Bankman-Fried. A former FTX chief was arrested and is currently in jail in the Bahamas. He is expected to agree to extradition to the United States this week.
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