FTX Demands the Return of Millions in Political Donations Made by Bankman-Fried

FTX Group announced on Sunday that it is sending letters to lawmakers and other political benefactors of Bankman-Fried, his deputies, and his firms, requesting that previous donations made be returned by the end of the month. In a news release, the debtors stated that they reserve the right to sue to demand repayments with interest.

Before his FTX company crashed last November, the disgraced former CEO, Bankman-Fried, loaded U.S. lawmakers with tens of millions of dollars in political contributions.

The disclosure escalates a battle over up to $93 million in political donations made by FTX to a variety of D.C. organizations. Legislators and issues from all political parties are represented. In what is considered a massive cross-party influence effort, one in every three members of the current U.S. Congress got money from Bankman-Fried.

The communications follow the FTX Debtors’ declaration on December 19, 2022, that they have made arrangements for such receivers to refund monies freely by emailing (FTXrepay@ftx.us). If such funds are not returned willingly, the FTX Debtors reserve the right to file proceedings in Bankruptcy Court to force their return, with interest accumulating from the day any action is filed. Recipients should be aware that making a payment or gift to a third party (including a charity) in the amount of any payment received from an FTX Contributor does not preclude the FTX Debtors from seeking recovery from the receiver or any later transferee.