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Sam Bankman-Fried has gained a lot of attention after the closure of his bitcoin exchange site FTX at the beginning of last month.
His recent detention by Bahamas authorities.
However, according to federal records, SBF gave at least 11 members of the House Financial Services Committee a sizable quantity of money (almost $95,000).
The donations were suspect to the 11 MPs who were on the committee investigating the FTX collapse since they took place prior to the midterm elections.
The donations
The majority of Fried’s Sam Bankman contributions went to Democrats.
Ritchie Torres, a New York representative, amassed $35,000 from various donors associated with FTX, according to The Post’s analysis of Federal Election Commission campaign data.
Rep. Jake Auchincloss was sure he wouldn’t follow Torres’ example and donate the proceeds from the FTX campaign to a good cause.
In the interim, no one else has yet addressed the issue.
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Rep. Ritchie Torres
According to the FEC, Sam Bankman-Fried contributed $2,900 to the New York Democrat’s campaign.
For his campaign and triumph, Gabriel Bankman-Fried gave him about $32,400.
In a subsequent interview with CoinDesk, Torres admitted that the donation was “unsolicited,” but he insisted that he would still give the money.
“My ties to him are minimal,” said Torres.
The Democrat claims that Sam Bankman-Fried is a pathological liar.
2. Rep. Josh Gottheimer
Records show that Sam Bankman-Fried personally donated $5,800 to the New Jersey representative.
Mark Wetjen, an FTX employee, presented Gottheimer with two gifts, each at $2,900.
With regard to the Commodity Futures Trading Commission, Wetjen has a wealth of experience.
It is confirmed that the politician will donate the funds to a deserving cause.
3. Rep. Jake Auchincloss
Sam Bankman-Fried and Wetjen each gave the committee vice chair $5,800.
Auchincloss said he wouldn’t return the contributions, citing the fact that they had been provided to other Democrats running in more intense campaigns as his justification.
“I’m not going to send money to a guy in a Bahaman jail, that’s for sure,” said the Massachusetts Rep.
“That money is out the door, helping to elect Democrats.”
4. Rep Jesus ‘Chuy’ Garcia
The Illinois Democrat’s reelection campaign received a $2,900 donation.
Last month, a spokesman for Garcia stated that he had previously donated the funds to the Northwest Center, a Chicago-based organization that supports financial literacy.
5. Rep Joyce Beatty
Sam Bankman-Fried also donated to the Ohio Democrat: $2,900.
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6. Rep. Cindy Axne
Sam Bankman-Fried gave the Iowa Democrat two distinct contributions over the course of the contest.
SBF provided Cindy Axne for Congress with a $2,900 contribution and a $5,000 increase for her AXNE PAC.
7. Rep. Lee Zeldin
According to the records, FTX executive Ryan Salame contributed $5,800 to Zeldin’s campaign prior to the midterm elections.
8. Rep Sean Casten
Gabriel Bankman-Fried gave $1,000 to Casten’s campaign in two different contributions, according to FEC records.
9. Rep. Tom Emmer
Several FTX executives contributed modest sums to the Minnesota Republican.
FTX employees Salame and Zach Dexter each gave $2,900.
10. Rep. Ted Budd
Salame gave the North Carolina Republican representative $2,900.
11. Rep Jim Himes
A FTX executive named Danielle Barrett contributed $2,800 to the campaign of the Connecticut politician.
Francesca Capodilupo, his campaign manager, spoke on his behalf and said:
“The contributions we received… was unsolicited and is being donated.”
Other donations
Sam Bankman-Fried provided a donation to an unnamed congressional office.
They pledged to hold onto the funds until they were sure they were the legitimate owners.
The employees had previously been cautioned against giving to a charity in case the victims later claimed their money back.
Additionally, FTX financing was given to members of the House Financial Services Committee.
According to reports, Sam Bankman-Fried contributed thousands of dollars to numerous PACs and campaigns for a variety of candidates.
- Jimmy Panetta
- Kim Schrier
- Angie Craig
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Jurisdiction on the contributions
The committee members erred by taking the gifts from Sam Bankman-Fried and FTX affiliates, according to government ethics experts who spoke on Thursday.
Professor of philanthropic studies at Indiana University’s Lilly Family School of Philanthropy and founding dean emeritus, Gene Tempel.
Tempel said:
“These contributions…were unethical because they represented a conflict of interest on both the part of FTX and the regulatory body.”
“Politicians have typically made contributions to charity in the amount of tainted money they have received.”
“In this case, since FTX defrauded individuals, a victims’ fund might be developed,” he continued.
“Which would be an appropriate place for politicians to make payments.”
John P. Pelissaro and Tempel concurred that the donations shouldn’t have been accepted, saying:
“Members of the House Financial Services Committee should have declined to accept campaign donations from any company or individuals associated with such that has or could have legislation considered at the committee that affects their businesses.
Pelissaro is a senior researcher and political scientist at the Markkula Center for Applied Ethics at Santa Clara University.
He asserted that returning the money by the committee members was the only “ethical” choice.
“If the funds are not returned by the congress members, they may create the perception that they are beholden to a company – now a failed business and under legal scrutiny – that was seeking to influence public policy before the committee,” said Pelissaro.
Reference:
These lawmakers probing FTX’s collapse got donations from Sam Bankman-Fried and cronies
