US Justice Department Pursues Return of $13M in Political Contributions Linked to FTX
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The U.S. Justice Department is actively seeking the return of up to $13.25 million in political contributions linked to former FTX executives, as revealed in a recent federal court filing.
Judge Lewis Kaplan, who is overseeing the criminal proceedings against former FTX CEO Sam Bankman-Fried and his associates, approved the government’s request for an extension until January 15 to negotiate with various political action committees (PACs).
In its filing, the government emphasized the need for more time to discuss the “forfeitability of funds” that these PACs received from Bankman-Fried and his co-conspirators.
Senate Majority PAC, Future Forward PAC, and Emily’s List Listed in the Filing
The specific groups mentioned include Senate Majority PAC, Future Forward PAC, and Emily’s List, all of which are primarily aligned with Democratic interests or support progressive causes.
According to data from OpenSecrets, the donations totaling approximately $13.25 million were made by Bankman-Fried and former FTX head of engineering Nishad Singh.
Singh, who testified that he was instructed by Bankman-Fried to make these contributions—often signing blank checks for their purpose—was recently sentenced to time served and three years of supervised release after cooperating with prosecutors against Bankman-Fried.
Detailed records indicate that the Future Forward PAC alone received $1 million from Singh and $5 million from Bankman-Fried.
Additionally, the GMI PAC accepted $2 million, while the Senate Majority PAC received $2 million from Singh and $1 million from Bankman-Fried.
Women Vote was also a recipient of $2.25 million from Singh.
In the aftermath of FTX’s collapse, several politicians and PACs have begun returning contributions made by Bankman-Fried, with reports indicating that many of these organizations intend to redirect the funds to other charitable causes.
SBF’s Neurodivergence Disorders Impacted Trial
Last month, a group of doctors submitted an amicus brief in support of Sam Bankman-Fried’s appeal, claiming that his criminal trial may have been significantly affected by his neurodivergence disorders.
The FTX co-founder, who has been diagnosed with autism spectrum disorder (ASD) and attention-deficit/hyperactivity disorder (ADHD), faced “serious challenges” during the court proceedings, the doctors said.
The brief, signed by eight doctors specializing in neurodivergence, highlighted that several rulings during the trial were detrimental to Bankman-Fried due to his conditions.
The amicus brief also coincided with another filing by a group of bankruptcy law professors who expressed concerns about the intersection of FTX’s bankruptcy case and Bankman-Fried’s criminal trial.
Although they did not take a stance supporting either side, the professors argued that the cooperation between the FTX bankruptcy estate and the prosecution could set a “dangerous precedent,” encouraging the use of Chapter 11 proceedings to bolster parallel criminal prosecutions.
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