Article

2022-12-22 Government Corruption

FTX seeks to claw back Sam Bankman-Fried's political donations

[NYPOST] FTX’s new leadership team signaled that it will attempt to claw back money that disgraced ex-billionaire Sam Bankman-Fried and his close associates improperly funneled to various entities — including a fortune in donations to political candidates.

New FTX CEO John Ray and the company’s other caretakers said they have received inquiries from various recipients who want to give back the money, the Wall Street Journal reported on Tuesday.

The bankrupt company called on others who took money from Bankman-Fried and other FTX executives to return the funds.

"To the extent such payments are not returned voluntarily, the FTX debtors intend to commence actions before the bankruptcy court to require the return of such payments, with interest accruing from the date any action is commenced," FTX said in a statement.

Bankman-Fried’s illicit spending spree before FTX’s collapse included at least $40 million in political contributions to Democratic candidates and political action committees.

Posted by Fred 2022-12-22 00:00|| || Front Page|| [11132 views ] Top

#1 They won’t be getting anything back from Stacy Abrams above her weekly limit at CheckSmart.

Posted by Super Hose 2022-12-22 05:41|| 2022-12-22 05:41|| Front Page Top

#2 Should read...

"Bankman-Fried aka Mini-Madoff's ethnoreligious legal team seeks to claw back their fees....."

Posted by Besoeker 2022-12-22 07:19|| 2022-12-22 07:19|| Front Page Top

#3 Money is fungible, and the "claw-backs" will be taken out of the taxpayers' hides.

Posted by M. Murcek 2022-12-22 07:44|| 2022-12-22 07:44|| Front Page Top

#4 Common law is clear
Illegally obtained property/funds/assets cannot be legally given, and the person owning or purchasing stolen property must return it and could face prison.

eg. When discovered, a stolen firearm must be returned to the rightful owner.

Otherwise, a Stage 4 Cancer person could just rob a bank. Give the $$$$$$$ to their family for medical bills and their ongoing continued living expenses.

The DC Swamp needs to pay up.

Posted by NN2N1 2022-12-22 08:23|| 2022-12-22 08:23|| Front Page Top

#5 "But we ~~stole this money~~ got these bribes fair and square!"

Posted by ed in texas 2022-12-22 10:00|| 2022-12-22 10:00|| Front Page Top

#6 The DC Swamp needs to pay up.

Rules are for little people.

Posted by Procopius2k 2022-12-22 10:45|| 2022-12-22 10:45|| Front Page Top

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