defendant Crypto Fraudster Sam Bankman-Fried Prior to the 2022 midterm elections, his FTX associates donated nearly $95,000 to at least 11 members of the House Financial Services Committee, according to federal records.
A string of individual campaign donations raises eyebrows, given that 11 lawmakers are currently on a committee investigating last month’s campaign. Collapse of the FTX cryptocurrency exchange.
The Post’s analysis of the Federal Election Commission’s campaign data found that the majority of the donations were to Democrats, with New York Rep. Richie Torres receiving a total of $35,000 from various donors related to FTX. received.
The House Financial Services Committee, which has a total of 53 members, was scheduled to take Bankman-Fried hard at a congressional hearing on Tuesday. Their plans were derailed when the shaggy-haired former billionaire was arrested hours earlier in the Bahamas and slapped on numerous fraud charges.
while Torres has already pledged to donate His FTX-linked campaign is funded by charities, and at least one member — Rep. Jake Auchincloss (D-Mass.) — was quick to say he wouldn’t follow suit. Meanwhile, many others remain mothers.
Here’s a breakdown of the 11 committee members who received campaign donations from Bankman-Fried and his associates:
Rep. Richie Torres (D-New York)
Bankman-Fried personally donated $2,900 directly to the New York Democratic Party’s campaign, according to FEC data.
Gabriel Bankman-Fried, the brother of the FTX founder, donated a total of $32,400 each to Torres’ campaign and victory fund.
Torres addressed the campaign donations earlier this week and said: CoinDesk It was “unsolicited” and he had donated the amount.
“My relationship with him is minimal,” Torres claimed, adding that Bankman-Fried was a “pathological liar.”
In a statement to the Post, Torres’ communications director Sophie Pollock confirmed that the funds had been donated to a “local charity.”
Rep. Josh Gottheimer (D-NJ)
The New Jersey Congressman received a personal donation of $5,800 from Bankman-Fried, records show.
He also received two separate donations ($2,900 each) from FTX executive Mark Wetjen, who previously served as commissioner of the Commodity Futures Trading Commission.
A spokeswoman for Rep. Gottheimer said the money would be donated to charity.
Rep. Jake Oakincross (D-Massachusetts)
Commission Vice-Chair Auchincloss received a personal donation of $5,800 from Bankman-Fried. He also received his $5,800 from Wetjen.
Massachusetts lawmakers said this week they have no plans to return the donation. That’s because the funds were given to other Democrats in the more competitive midterm elections.
“I’m not going to send money to a guy in jail in the Bahamas, that’s for sure. That money will go out in the open and help elect the Democrats,” he told a Boston radio station. WBUR.
Rep. Jesus ‘Chui’ Garcia (D-Illinois)
Bankman-Fried put $2,900 into the Illinois Democratic Party’s re-election campaign.
Garcia’s Advocate revealed last month His campaign had already donated FTX-linked cash to Chicago’s Northwest Center, which focuses on financial literacy.
Garcia’s office did not respond to a request for comment.
Rep. Joyce Beatty (D-Ohio)
The 72-year-old Democrat received a donation of $2,900 from Bankman-Fried, according to FEC data.
Beatty’s office did not respond to a request for comment.
Congressman Cindy Axne (D-Iowa)
The disgraced FTX founder has made two separate contributions to the Iowa Democratic Party campaign.
According to campaign financial records, Axne received $2,900 for Congressman Cindy Axne and another $5,000 donation for her AXNE PAC.
Aksne’s office did not respond to a request for comment.
Rep. Lee Zeldin (R-NY)
FTX executive Ryan Salame donated $5,800 to Zeldin’s campaign ahead of the midterm elections, records show.
Zeldin’s office did not respond to the Post’s request for comment.
Rep. Sean Casten (D-Illinois)
Bankman-Friend’s brother, Gabriel, made two separate donations to Casten’s campaign, according to FEC data. In total he is $1,000.
Casten’s DC office had “no comment at this time” when contacted by Thursday.
Rep. Tom Emmer (Republican-Minnesota)
Republicans in Minnesota received small donations from at least two FTX executives ahead of the midterm elections.
His campaign received a total of $8,700 from Salame and an additional $2,900 from FTX’s Zach Dexter.
Emer’s office did not immediately respond to a request for comment.
Congressman Ted Budd (Republican-North Carolina)
The North Carolina Republican Party representative received a donation of $2,900 from Salaam, records show.
Budd’s office could not be reached for comment. The outgoing committee member is scheduled to take office on January 3, replacing longtime Republican Senator Richard Burr.
Rep. Jim Himes (D-CT)
A donation of $2,800 was made by FTX Executive Danielle Barrett to the Connecticut Representation campaign.
“The donations we have received…are unsolicited and donated,” Himes campaign manager Francesca Capodilupo said Thursday.
waiting game
A congressional office that received donations from Bankman-Fried told The Post it was waiting to hand over the funds until it was determined where the money legally belonged. It was previously advised not to donate money to charity in case it was taken back.
Other questionable contributions
Members of the House Financial Services Committee aren’t the only politicians with FTX funds in their coffers either.
Bankman-Fried alone poured thousands of dollars into various PACs, including Rep. Jimmy Panetta (D-California), Kim Schrier (D-Washington) and Angie Craig (D-Massachusetts), according to FEC records. ) and other campaigns. .
“Unethical” contributions
A leading government ethics expert said Thursday that committee members were wrong to accept donations from Bankman-Fried and FTX officials.
Jean Tempel, professor emeritus and professor of philanthropic studies at Indiana University’s Lilly Family School of Philanthropy, said:
“Politicians have typically donated the dirty money they receive to charity,” Tempel explained.
“In this case, FTX defrauded individuals, so a victim fund could be developed, which would be a good place for politicians to make payments.”
John P. Pelissaro, a political scientist and senior fellow at the Markkula Center for Applied Ethics at Santa Clara University, agreed with Tempel’s assessment that the donation should never have been accepted.
“Members of the House Financial Services Committee will refuse to accept campaign contributions from companies or individuals for whom legislation affecting their businesses is or may be considered by the committee. I should have,” reasoned Pelissaro.
He continued that the only “ethical course” for committee members was to return the money.
“If members of Congress do not return the funds, they will be indebted to a company (now a failed business and under legal scrutiny) that was trying to influence public policy before the commission. It can create the perception that we are
The House Financial Services Committee did not immediately respond to the Post’s request for comment.
