Election regulators in Oregon have decided to punish the Democratic Party of Oregon $15,000. They have also requested that the state attorney general investigate the cryptocurrency executive who donated $500,000 to the party under an alias in 2017.
The Secretary of State’s Elections Division made their findings public on Thursday(18 May 2023) after seven months of investigating Nishad Singh, an executive at the cryptocurrency exchange FTX, and his $500,000 contribution.
Jamie Goldberg tweeted that the Crypto Executive should be subject to criminal investigation. Also, you can verify:
Elections officials ask Department of Justice to consider criminal charges against FTX executive who made $500,000 donation to Oregon Democrats https://t.co/oXEtVyhp5W
— Jamie Goldberg (@Jamiebgoldberg) May 18, 2023
Prime Trust, a cryptocurrency firm based in Las Vegas, was initially listed as the donor of the Democratic Party of Oregon’s greatest contribution in October 2022.
Party’s investigation Stated that, the real donor was FTX’s engineering director, Nishad Singh. pleaded guilty to criminal charges in February, including wire fraud, money laundering, and campaign finance crimes, and agreed to cooperate with federal prosecutors as they pursue fraud charges against the company’s founder, Sam Bankman-Fried.
According to a statement released by Oregon’s elections director, Singh testified under oath in federal court that he had made political donations in his own name using funds from FTX and Alameda, another company owned by Bankman-Fried.
“After a seven-month investigation, we believe this is sufficient information to justify a referral to the Oregon Department of Justice to consider prosecuting Mr. Singh under state law for making a contribution in a false name,” Whalen said.
Contributing under a fictitious identity is a Class C felony punishable by up to five years in jail and a $125,000 fine. As a press statement, the investigation found no conclusive proof that the Democratic Party had known the genuine source when it recorded the contribution.
The department and the offending party have settled on terms that call for the offender to pay a $15,000 fine and publicly identify measures it will take to avoid similar blunders in the future.
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Molly Woon, the head of the Elections Division, was previously the party’s communications director and deputy director for three years. She did not step aside from the probe.
While her office audited the Oregon Liquor and Cannabis Commission, former Secretary of State Shemia Fagan was also working as a consultant for a cannabis company and a campaign donor, leading to her resignation last week.
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