Three Democratic political groups to which FTX founder Sam Bankman-Fried (SBF) donated are reportedly trying to get their money back, according to a report. The three Democratic primary committees have announced that they will set aside more than $1 million in contributions from convicted crypto mogul SBF, who is suspected of making tens of millions of dollars in unauthorized campaign contributions.
More than $1 million to be returned
SBF’s political contributions to U.S. political parties have come under increased scrutiny since his arrest on December 12. The accused entrepreneur used the “dirty money,” according to U.S. Attorney Damian Williams, to buy influence and shape public policy in Washington.
The Democratic National Committee, the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee are among the organizations to which he gave money.
Democrats await court proceedings
Democratic Party spokesman Daniel Wessel said in a statement Friday that the organization will set aside $815,000 in contributions it has received from Bankman-Fried since 2020. In addition to giving directly to the Democratic Party, the Democratic Grassroots Victory Fund and the Biden Victory Fund – a joint fundraising group supported by Joe Biden’s presidential campaign.
Daniel Wessel is also quoted as saying,
We will return as soon as we receive appropriate instructions in the legal proceedings.
Similar claims were made by representatives of the DSCC and DCCC, the official campaigns of the Senate and House Democrats, respectively.
According to spokesman David Bergstein, the DSCC group has received $103,000 in Bankman-Fried-related donations and, like the Democratic Party, plans to return them as soon as it receives the proper instructions.
In a statement, the DCCC said it “awaits further instructions from the government on what to do with the money based on their legal process.”
Individual politicians weigh in
In addition, individual politicians have declared their intention to return their share of SBF generosity.
If a thief randomly contributes $2,900 to you online. I recommend donating the $ to the Border Patrol Foundation like I did. 💚
– Tony Gonzales (@TonyGonzales4TX) December 16, 2022
Another $1 million in donations from SBF was reportedly returned by Beto O’Rourke’s Texas campaign. In addition, Greg Casar said that the $6,800 in donations he received will go to the advocacy group Fight Corporate Monopolies.