Disgraced FTX founder Sam Bankman-Fried, who is facing charges that could put him in prison for the rest of his life was the second-largest contributor to Democrats and Democratic organizations in 2022. The amount is in question, but we know for a fact that it was at least $40 million dollars. Some of that money went to RINOs who are very close to the Democrats. New FTX boss John Jay Ray III is the man who clawed back the money contributed to politicians connected to ENRON.
So far, only the Senate Majority PAC has agreed to refund the three million that they received from the former CEO, but they say they are going to donate the money to charity. But Ray points out that it is their money to give away. He wants that money in order to cover the losses incurred by the investors,
The company said in a Dec. 19 statement:
“Recipients are cautioned that making a payment or donation to a third party (including a charity) in the amount of any payment received from a FTX Contributor does not prevent the FTX Debtors from seeking recovery from the recipient or any subsequent transferee. To the extent such payments are not returned voluntarily, the FTX Debtors intend to commence actions before the Bankruptcy Court to require the return of such payments, with interest accruing from the date any action is commenced.”
Democrats who received money include incoming House Minority Leader Hakeem Jeffries, senators Cory Booker, of New Jersey; Joe Manchin, of West Virginia; Debbie Stabenow, of Michigan; Dick Durbin, of Illinois; and Patty Murray, of Washington. They are under pressure to return that money because it was stolen by Sam Bankman-Fried. Anyone who receives stolen money must return it. But, trying to take money from a Democrat is like trying to take a T-bone steak away from a pit bull. FTX under
Bankman-Fried also gave millions of dollars to organizations run by his brother and Stanford Law professor mother. Gabe Bankman-Fried’s charity, Guarding Against Pandemics, and a Super PAC fun by Barbara Fried, Mind the Gap. They then donated that money to Democrat politicians. That money must be returned.
Thousands of investors lost their money, some their life savings, when the Bahamas-based crypto exchange collapsed. Prosecutors from the Southern District of New York allege Bankman-Fried looted billions of dollars from his clients’ accounts to buy real estate, donate to politicians, and fund his one-time girlfriend’s failed hedge fund. Bankman-Fried is currently under house arrest at his parents’ home, free on a $250 million dollar bond.
Before his stunning fall from grace, Bankman-Fried was seen as a darling of the Left. With a net worth once estimated as high as $25 billion, he donated to a host of liberal causes, claiming to espouse a philanthropic philosophy of pursuing profits solely to give more money away. But Bankman-Fried later said he cynically adopted the Left’s language as “dumb game we woke Westerners play,” even as he ran the company into the ground.
“Never in my career have I seen such an utter failure of corporate controls at every level of an organization, from the lack of financial statements to a complete failure of any internal controls or governance whatsoever,” Ray said in a Dec. 13 statement to the House Financial Services Committee.
Ray returned about 52 cents on the dollar to all of Enron’s creditors after the Texas energy giant collapsed in the early 2000s, according to a Wall Street Journal report.