There have been plenty of cases of individuals trying to illegally conceal their political donations. What makes the Sam Bankman-Fried case different is that the money allegedly wasn’t his to give.
, gave one of his first interviews since FTX filed for bankruptcy protection. He made some remarkably unguarded comments, indicating that the political implications of his actions might be much broader than previously thought. In recent years, Bankman-Fried had become one of the Democratic Party’s most prominent donors: during the last election cycle alone, he gave a reported forty million dollars to campaigns and political groups that were mostly Democratic.
Since Bankman-Fried’s arrest, Republican commentators have argued that the case represents a devastating political scandal for Democrats. Many Democratic groups, including the Senate Majority Political Action Committee, and several politicians—including the former Texas gubernatorial candidate, who received a publicly reported donation of a million dollars from Bankman-Fried—have announced that they’re giving the money back or donating it to charity.
By describing his dark-money donations as being “to Republicans,” as Bankman-Fried did, he acknowledged that the money was given directly to fund political activity—and that could mean that his actions were against the law. “Basically, dark money is done with a wink and a nudge: You say, ‘I’m just giving this group money, because I like their social-welfare mission, and they can use it for whatever they want,’ and then they choose it for politics,” Libowitz said.
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