All posts tagged "Nishad Singh"

A joint fundraising committee for President Joe Biden disgorged a $50,000 donation from Sam Bankman-Fried, the disgraced CEO of now-defunct cryptocurrency exchange FTX, according to a Raw Story review of new federal records.

The Biden Victory Fund surrendered the Bankman-Fried donation to the U.S. Marshals Service in January, Federal Election Commission records indicate.

Bankman-Fried, who made his donation to Biden in 2022, was sentenced to 25 years in prison last month for stealing $8 billion from customers, which he used in part to finance contributions to politicians and political interests across the ideological spectrum....

More than 30 federal political candidates and party committees have together surrendered at least $160,000 worth of donor dollars to the U.S. Marshals Service in recent weeks, according to a Raw Story analysis of federal campaign records.

It’s an all-but-unprecedented relinquishing of precious campaign cash to a government agency best known for hunting down suspected criminals, and even veteran election officials say they’ve never seen anything quite like it in U.S. politics.

But this isn’t any routine situation: Most of these “disgorgements” stem from contributions made by executives of bankrupt cryptocurrency exchange FTX, including former CEO Sam Bankman-Fried, Raw Story’s analysis indicates. And the Department of Justice is urging campaigns to give the money up....