{"id":1837354,"date":"2023-02-06T17:20:36","date_gmt":"2023-02-06T22:20:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1837354"},"modified":"2023-02-06T17:21:40","modified_gmt":"2023-02-06T22:21:40","slug":"sam-bankman-fried-and-allies-gave-money-to-one-in-three-congress-members-heres-what-they-did-with-it","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-and-allies-gave-money-to-one-in-three-congress-members-heres-what-they-did-with-it\/","title":{"rendered":"Sam Bankman-Fried And Allies Gave Money To One In Three Congress Members. Here\u2019s What They Did With It."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">36<\/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%2Fsam-bankman-fried-and-allies-gave-money-to-one-in-three-congress-members-heres-what-they-did-with-it%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=1837354&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-->\n<p>One in three members is a member of <a href=\"https:\/\/www.dailywire.com\/topic\/congress\" target=\"_blank\" rel=\"noopener\">Congress<\/a> Accepted campaign contributions from former FTX Chief Executive Officer <a href=\"https:\/\/dailywire.com\/topic\/sam-bankman-fried\" target=\"_blank\" rel=\"noopener\">Sam Bankman-Fried<\/a> and affiliates of defunct <a href=\"http:\/\/dailywire.com\/topic\/cryptocurrency\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> In their efforts to recover the funds, bankruptcy and exchanging lawyers are encountering resistance.<\/p>\n<p>Bankman-Fried was allegedly combining assets between FTX trading company Alameda Research and its sister trading company FTX. He was then arrested and charged with several fraud counts. His <a href=\"https:\/\/www.dailywire.com\/news\/officials-charge-sam-bankman-fried-of-using-customer-funds-for-lavish-real-estate-and-large-political-donations\" target=\"_blank\" rel=\"noopener\">Many political connections<\/a> came to public attention in the weeks after his company\u2019s bankruptcy, including the $39 million he donated to Democrats ahead of the midterms and four <a href=\"https:\/\/www.dailywire.com\/news\/sam-bankman-fried-visited-biden-white-house-four-times-ahead-of-his-arrest\" target=\"_blank\" rel=\"noopener\">Meetings<\/a> He was granted the White House.<\/p>\n<p>FTX, currently led by John Ray III (bankruptcy lawyer), announced Sunday that it would be sending its first customers. \u201cconfidential messages to political figures, political action funds, and other recipients of contributions\u201d According to a, the statements were made in part by former FTX executives. <a href=\"https:\/\/www.prnewswire.com\/news-releases\/ftx-debtors-send-messages-to-recipients-of-avoidable-donations-301738948.html\" target=\"_blank\" rel=\"noopener\">Press release<\/a> The company was warned about legal action against entities that fail to return payments.<\/p>\n<p>Previous <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/01\/17\/congress-ftx-problem-1-in-3-members-got-cash-from-crypto-exchanges-bosses\/\" target=\"_blank\" rel=\"noopener\">Analysis<\/a> Coindesk analyzed Federal Election Commission data and found that 196 out of 535 Senate and House members received donations from Bankman Fried and his associates last month. 33 of 53 campaigns that responded to this outlet stated they would donate the money to nonprofit causes. Rep. Greg Casar (D. Texas), who donated the contributions for an advocacy group called Fight Corporate Monopolies; and Rep. Ronny Johnson (R. TX), who donated funds to a crisis pregnancy clinic.<\/p>\n<p>FTX warned \u201cmaking a payment or donation to a third party,\u201d The company could include a charity in its operations. \u201cseeking recovery from the recipient or any subsequent transferee.\u201d 19 of the lawmakers who replied to Coindesk&#8217;s inquiry said that they were keeping the funds in order to receive guidance on how they should return them. Five lawmakers said they had returned the money to FTX, but only five others did.<\/p>\n<p>Nearly three quarters of all the individuals who received donations from Bankman Fried and his associates did not comment on Coindesk.<\/p>\n<p>Many of the contributions to lawmakers were small. Nishad Singh (the former director for engineering for FTX) donated $2,900 for Nancy Pelosi&#8217;s congressional campaign, while Ryan Salame (who served as coCEO for the campaign) donated a combined $8,000.00 to Kevin McCarthy&#8217;s congressional campaign, according to the official. <a href=\"https:\/\/www.fec.gov\/data\/receipts\/individual-contributions\/?two_year_transaction_period=2022&#038;min_date=01%2F01%2F2021&#038;max_date=12%2F31%2F2022\" target=\"_blank\" rel=\"noopener\">Data<\/a> The Federal Election Commission. Friends of Schumer received $2,900 from Mark Wetjen (an ex-Washington adviser to Bankman-Fried)<\/p>\n<p>The Senate Majority PAC exists to elect Democrats <a href=\"https:\/\/www.dailywire.com\/news\/democrats-say-they-will-return-3-million-donated-by-ftx-executives\" target=\"_blank\" rel=\"noopener\">Announcement<\/a> The group pledged $3 million to Singh and Bankman\u2013Fried last year. Similar commitments were made last year by the Democratic National Committee, the Democratic Senatorial Campaign Committee, and the Democratic Congressional Campaign Committee.<\/p>\n<p>Last month, FTX&#8217;s bankruptcy attorneys announced that they had a new team of lawyers to manage the proceedings. <a href=\"https:\/\/www.dailywire.com\/news\/ftx-bankruptcy-lawyers-reveal-how-much-they-have-clawed-back-for-defrauded-investors\" target=\"_blank\" rel=\"noopener\">Recovered<\/a> $5 billion worth of assets were used to repay investors and customers that had been defrauded. According to a, Bankman-Fried could be charged with conspiracy to conduct wire fraud, conspiracy in commodities fraud or conspiracy to steal securities. He also faces conspiracy money laundering and conspiracy defrauding the Federal Election Commission. <a href=\"https:\/\/www.justice.gov\/usao-sdny\/pr\/united-states-attorney-announces-charges-against-ftx-founder-samuel-bankman-fried\" target=\"_blank\" rel=\"noopener\">Press release<\/a> From the Justice Department.<\/p>\n<p>The entrepreneur could spend up to 115 year in prison. <a href=\"https:\/\/www.dailywire.com\/news\/sam-bankman-fried-pleads-not-guilty-allowed-to-conceal-who-is-securing-his-250-million-bond\" target=\"_blank\" rel=\"noopener\">Pleading<\/a> not guilty and is awaiting trial from his parents\u2019 estate in northern California.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than one in three members of Congress accepted campaign contributions from former FTX CEO Sam Bankman-Fried and other affiliates of the defunct cryptocurrency exchange, and bankruptcy lawyers are finding resistance as they seek to claw back the funds. Bankman-Fried was arrested and charged with several counts of fraud after allegedly commingling assets between FTX &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1837357,"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":[541],"tags":[8066,7176,4402,3751,7454,4985,4755,6912],"class_list":["post-1837354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-allies","tag-bankman-fried","tag-congress","tag-heres","tag-it","tag-members","tag-money","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\/1837354","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1837354"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1837354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1837357"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1837354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1837354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1837354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}