Democrat megadonor Sam Bankman-Fried and his co-conspirators made more than 300 illegal political donations in the United States, according to a new indictment against the FTX cryptocurrency exchange founder unsealed on Thursday in a Manhattan federal court.
The donations, totaling tens of millions of dollars, were unlawful because they were attributed to a “straw donor” or made using corporate funds, often allowing Bankman-Fried to evade contribution limits on individual contributions to candidates, prosecutors said.
More than 95 percent of those donations have gone to Democrats and Democratic committees, according to Federal Election Commission records.
[This will get ugly for Democrat recipients of those funds. If they are the proceeds of fraud, the DoJ will have to claw those donations back to recompense the victims. That will put a dent in 2024 fundraising — not a crippling dent in and of itself, but it might repel potential donors who realize that they’re essentially paying off Bankman-Fried’s fraud. — Ed]
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