Dems face backlash over FTX scandal, return millions in donations
- December 20, 2022
Casey Harper, The Center Square
The Democrats’ Senate Majority Political Action Committee announced Tuesday it would be returning about $3 million in donations from Sam Bankman-Fried, the disgraced FTX CEO who faces criminal charges, including campaign finance charges, after his multi-billion dollar digital asset company collapsed.
“Following the serious allegations against FTX, Senate Majority PAC previously set aside the contribution amounts from Sam Bankman-Fried and Nishad Singh with the intention of returning the funds once we receive proper direction from federal law enforcement officials based on their legal proceedings,” a spokesperson for the PAC told CNBC on Tuesday.
The PAC is also returning donations from the company’s former head engineer, Nishad Singh.
The Democrats’ House Majority PAC said they will return about $6 million from the CEO, another of several Democrat-affiliated groups quickly clearing their names from association with Bankman-Fried and FTX.