WASHINGTON : The Democratic Party's three top campaign groups are preparing to return over $1.1 million they have received from imprisoned cryptocurrency tycoon Sam Bankman-Fried, they said on Friday.
The Democratic Senatorial Campaign Committee said it was setting aside $103,000, and the Democratic Congressional Campaign Committee, which oversees the party's campaign arm for the House of Representatives, said it would set aside $250,000. Bankman-Fried, the founder of cryptocurrency exchange FTX, was arrested in the Bahamas on Monday after U.S. prosecutors accused the 30-year-old of misappropriating billions of dollars and violating campaign laws in what has been described as one of America's biggest financial frauds.
Bankman-Fried, who amassed a fortune valued at over $20 billion, was one of the biggest political donors during the midterm election cycle. Federal election disclosures show he gave roughly $40 million to mostly Democratic-aligned groups and campaigns.
Source: Digital Coin News (digitalcoinnews.net)
Accepting the money and using it without knowing the donor's background is already a criminal act.
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