FTX Group sent private letters to politicians demanding the return of donations previously received from former exchange chief Sam Bankman-Fried.
According to court documents, the amount could be $93 million.
👀 FTX debtors are reviewing $93 million in political donations from March 2020 to November 2022
(Slide from the FTX debtor presentation you can find on the Kroll docket https://t.co/YMEq1bZF66) pic.twitter.com/mUhZ7g0mjx
— Stephanie Murray (@stephanie_murr) January 17, 2023
As part of the collapse investigation, the U.S. attorney’s office charged Bankman-Fried with eight criminal offenses.
One of them is a violation of U.S. campaign-finance laws. Bankman-Fried allegedly made donations in the names of others to bypass the $25,000 annual limit. The former FTX head has pleaded not guilty.
FTX Group urged recipients to return them by February 28, 2023. The press release said debtors may sue to compel recovery, including interest.
According to CoinDesk, Bankman-Fried directed funds to one in three sitting members of the U.S. Congress.
In 2020, the former FTX head allocated $5.22 million to Joe Biden’s campaign fund, ranking among his top sponsors. By the election, the Democrat candidate defeated Republican Donald Trump and became the 46th president of the United States.
In May 2022, Bankman-Fried pledged to spend between $100 million and $1 billion on the 2024 elections.