The U.S. government is negotiating to recover nearly $13,25 million in political donations from former FTX executives, according to a new federal court filing.
The US authorities are asking to negotiate with several political action committees (PACs) "about the possibility of confiscating funds received by organizations from Sam Bankman-Fried and his subordinates." The names of several PACs that received donations from FTX management are known: Senate Majority PAC, Future Forward PAC, Future Forward USA Action, Emily's List/Women Vote and GMI PAC. Almost all of these committees are related to the US Democratic Party.
Each of these organizations received donations ranging from $1 million to $5 million. Several political committees returned the money after FTX collapsed, and some promised to donate the funds to charity.
According to OpenSecret, in addition to Sam Bankman-Fried, Nishad Singh, the former head of engineering at FTX, was a frequent political donor. Singh recently avoided prison time by receiving a suspended sentence for testifying against his former friend and boss. In particular, he said that he made donations at the request of Bankman-Fried, sometimes signing blank checks.
