{"id":1778898,"date":"2022-12-18T06:05:06","date_gmt":"2022-12-18T11:05:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1778898"},"modified":"2022-12-18T06:18:41","modified_gmt":"2022-12-18T11:18:41","slug":"three-major-dem-campaign-groups-promise-to-return-donations-from-sam-bankman-fried","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/three-major-dem-campaign-groups-promise-to-return-donations-from-sam-bankman-fried\/","title":{"rendered":"Three Major Dem Campaign Groups Promise to Return Donations From Sam Bankman-Fried"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthree-major-dem-campaign-groups-promise-to-return-donations-from-sam-bankman-fried%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1778898&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/original_sbf.jpg\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>                The Democratic National Committee (DNC) along with the party&#8217;s senatorial and congressional campaign committees announced on Friday that they would return the donation funds contributed by Sam Bankman-Fried, the disgraced FTX founder who is now <a href=\"https:\/\/thepostmillennial.com\/breaking-ftx-founder-sbf-charged-with-multi-year-scheme-to-defraud-investors-by-sec\">charged with fraud<\/a> for allegedly misusing funds from his cryptocurrency exchange.<\/p>\n<p>The three major Democratic campaign groups said they would reserve over $2 million in donations received from the former crypto mogul, and eventually seek to return the money to FTX&#8217;s disgruntled customers, reports the <a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/12\/16\/democrats-will-seek-return-more-than-1-million-bankman-fried\/\">Washington Post<\/a>.<\/p>\n<p>&#8220;Given the allegations around potential campaign finance violations by Bankman-Fried, we are setting aside funds in order to return the $815,000 in contributions since 2020,&#8221; said Daniel Wessel, a spokesman for the DNC. &#8220;We will return as soon as we receive proper direction in the legal proceedings.&#8221;<\/p>\n<p>A spokesman for the Democratic Senatorial Campaign Committee, David Bergstein, also said his group would set aside the $103,000 it received from Bankman-Fried. &#8220;We will return it as soon as we receive proper direction in the legal proceedings,&#8221; he told the Post.<\/p>\n<p>The spokesman for the Democratic Congressional Campaign Committee made a similar statement.<\/p>\n<p>&#8220;We are waiting for further guidance from the government on what to do with the money based on their legal proceedings,&#8221; Chris Taylor said of the $250,000 they received from the former FTX CEO.<\/p>\n<p>On Tuesday, White House Press Secretary Karine Jean-Pierre refused to say\u00a0if President Joe Biden will return campaign donations from FTX and Bankman-Fried.\u00a0<\/p>\n<p>In the 2021-2022 election cycle, Bankman-Fried contributed more than $40 million to political candidates and groups, becoming the <a href=\"https:\/\/thepostmillennial.com\/revealed-ceo-of-cratering-crypto-firm-ftx-is-dems-second-largest-donor-behind-soros\">second-largest Democratic donor after George Soros<\/a>.<\/p>\n<p>This fact was widely shared on social media, garnering the Democratic Party backlash.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\"><\/blockquote>\n<p>At least $1-2 billion in customer funds was reportedly lost by FTX, reported <a href=\"https:\/\/www.cnbc.com\/2022\/11\/12\/1-billion-to-2-billion-of-ftx-customer-funds-missing-report.html\">CNBC<\/a> last month. According to the <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2022-219\">U.S. Securities and Exchange Commission (SEC)<\/a>, FTX defrauded equity investors of approximately $1.8 billion.<\/p>\n<p>The announcements from the Democratic groups \u2014 which funded the campaigns of House and Senate Democrats in the recent midterm elections \u2014 came just days after Bankman-Fried was <a href=\"https:\/\/thepostmillennial.com\/ftx-founder-sam-bankman-fried-staying-in-bahamian-jail-not-fit-for-humanity\">arrested by Bahamian officials<\/a> and charged with violating securities and campaign finance laws.<\/p>\n<p>&#8220;We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto,&#8221; said SEC Chair Gary Gensler. &#8220;The alleged fraud committed by Mr. Bankman-Fried is a clarion call to crypto platforms that they need to come into compliance with our laws\u2026To those platforms that don\u2019t comply with our securities laws, the SEC&#8217;s Enforcement Division is ready to take action.&#8221;<br \/>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Democratic National Committee (DNC) along with the party&#8217;s senatorial and congressional campaign committees announced on Friday that they would return the donation funds contributed by Sam Bankman-Fried, the<\/p>\n","protected":false},"author":1,"featured_media":1778901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[7176,5458,4087,6244,4303,3752,6055,3819,5309,6912],"class_list":["post-1778898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bankman-fried","tag-bongino","tag-campaign","tag-dem","tag-donations","tag-major","tag-promise","tag-report","tag-return","tag-sam"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1778898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1778898"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1778898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1778901"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1778898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1778898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1778898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}