FTX tries to reclaim the political donations from Sam Bankman-Fried

ftx will try to receive donations in millions to US politicians from Sam Bankman-Fried and his close employees in order to repay the creditors after the donations were financed with customer money.

The new management of the company said that "a number of recipients of contributions or other payments" had been addressed ", who tried to return the money they had received from Bankman-Fried, its company or manager. FTX said that a procedure for accepting repayments will be set up and legal steps will initiate not returned money.

"Insofar as such payments are not repaid voluntarily, the FTX debtors intend to submit to the bankruptcy court in order to request the repayment of these payments, whereby interest is incurred from the date of the lawsuit," said the company.

According to an analysis of public records by the Financial Times, Bankman-Fried, together with the US arm of FTX and other top executives in the 2021-22 election cycle, donated more than $ 70 million to US politicians and donations. He was the second largest supporter of democratic groups in the recent interim elections when he campaigned for cryptor regulation at the congress and the US regulator.

Ryan Salame, Managing Director of the FTX unit on the Bahamas, donated around $ 24 million, mainly to Republican groups.

Bankman-Fried resigned as CEO of FTX in November when the company in Delaware broke into bankruptcy according to Chapter 11. Since then, the trading center for cryptocurrencies has been operated by the experienced insolvency administrator John Ray III, who has started to secure his assets.

Bankman-Fried was arrested in Nassau last week and is under charge of the Federal Prosecutor's Office in New York before delivery to the United States. Among the allegations, the Ministry of Justice claims that the 30-year-old Bankman-Fried violated the election campaign financing laws, such as the ban on using third parties in order to direct money to candidates beyond the donation border.

Bankman-Fried denied misconduct.

In a separate lawsuit, the US Securities and Exchange Commission filed charges for civil law fraud, including the abuse of customer funds for the financing of donations.

"From the beginning, Bankman-Fried customer assets illegally redirected to his private crypto hedge funds Alameda Research and then used these customer funds in order not to make any open risk investments, wasteful real estate purchases and large political donations," said the Wall Street regulatory authority in the court files last week.

Several US politicians have announced that they donate funds from FTX or Bankman-Fried for charitable purposes. However, the company warned that it would continue to try to get these funds back in, including the persecution of the organizations that receive the donations.

"Recipients are warned against paying a payment or donation to third parties (including a charity) in the amount of a payment.

ftx invited those who have received contributions to contact the company with regard to a voluntary repayment. By receiving the money, FTX will try to avoid a possibly sensitive legal proceedings to force the recipients to return funds.