Fagan Will Punish Democrats in Oregon for an FTX Donation
FTX Donation: More than a month after WW’s initial inquiry, the Democratic Party of Oregon still won’t say what it plans to do with a contribution of $500,000 made in the name of Nishad Singh, a former director of engineering at FTX, the now-defunct cryptocurrency exchange run by Sam Bankman-Fried. This is despite the fact that WW has repeatedly asked the party about its intentions regarding the contribution.
Democrats In Oregon Will Be Punished By Fagan For An FTX Donation
Bankman-Fried is accused of, among other things, making millions of dollars in donations in other people’s names using funds taken from FTX customers’ accounts. The United States Department of Justice made this claim.
Brad Martin, the DPO’s executive director, stated in an email that there would be “no updates or comments at this time.” Until recently, the nonprofit organisation had enough money in its account to repay the payment. According to the state’s records, the account now shows $333,000.
Oregon Secretary of State Shemia Fagan issued a request for information on the gift in November, kicking off an investigation into the matter. The DPO responded on December 20th, and Fagan’s office is now evaluating the response, according to spokesperson Ben Morris. The response is not publicly available.
According to Morris, Fagan intends to punish the state party for changing information about a donation made on October 4 after the deadline, which was seven days later. The DPO waited until October 31st to declare that the money came from Singh and not from Prime Trust, a cryptocurrency firm based in Las Vegas.
Secretary of State Shemia Fagan plans to fine the Democratic Party of Oregon for amending information about an Oct. 4 contribution that came from FTX executive Nishad Singh and not from a Las Vegas crypto company called Prime Trust. @AnthonyEffPDX reports. https://t.co/aKabhJjMSm
— Aaron Mesh (@AaronMesh) January 4, 2023
Bankman-Fried, who is currently serving house arrest at his parent’s home on the Stanford University campus in Palo Alto, California, where both of his parents are professors, may have been the source of the contribution, according to the DOJ. Fried’s parents are both Stanford professors.
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