Sam Bankman-Fried and other FTX executives were megadonors in political campaigns before his soaring cryptocurrency company went bankrupt in November. Most disclosed contributions went to Democrats, who have since come under fire for accepting the money.
As per data compiled by OpenSecrets, an independent political action committee called Protect Our Future PAC received a significant amount of money from Bankman-Fried and used that money to advocate for the election of Carrick Flynn.
This effort cost $10,452,673. Flynn lost the Democratic primary to Andrea Salinas, the eventual winner of Oregon’s 6th Congressional District, in 2016.
Republicans also received some FTX funding. U.S. Representative Lori Chavez-DeRemer, a Republican, defeated Democratic challenger Jamie McLeod-Skinner in November to represent the nearby 5th Congressional District.
According to today’s revelation by the investigative news website Raw Story, Chavez-DeRemer is one of roughly two dozen Republicans who have donated money to the U.S. Marshals Service after being ordered by the U.S. Department of Justice to refund contributions from Bankman-Fried and other FTX executives.
Federal prosecutors accuse Bankman-Fried of violating campaign finance regulations and defrauding investors. He has pleaded not guilty.
The U.S. Department of Justice alleges that Bankman-Fried made donations in the names of others so that he could exceed his personal contribution limit and purchase political influence.
Raw Story stated Chavez-DeRemer paid the Marshals Service $1,000.
A spokesman confirmed the return. “The funds were transferred so that people who were defrauded can receive some compensation for their losses,” Aaron Britt, a spokesman for Chavez-DeRemer, said in a statement.
The following is a list of the most recent information that we have regarding the state of Oregon:
- Several People Saved from Apartment Fire in Portland, Oregon’s Downtown.
- The Results of the Special Election That Took Place in Oregon on May 16
The CBS News article from December quotes Bankman-Fried as saying, “All my Republican donations were dark,” meaning that his donations to the Republican Party were roughly equivalent to those to the Democratic Party.
Nishad Singh, director of engineering for FTX, is known to have donated $500,000 to the Democratic Party of Oregon. The DPO has not yet transferred the funds to the Marshals.
“We take this issue seriously,” DPO executive director Brad Martin said. “We’re coordinating with federal authorities but have no other comment now.”
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