The implosion and bankruptcy of cryptocurrency exchange FTX among revelations that founder Sam Bankman-Fried had funneled tens of billions of dollars to the Democratic Party has some Republicans asking very serious questions, one of them being Senator Josh Hawley who sent a fiery letter to Attorney General Merrick Garland and top Biden regime regulators.
In the Friday letter to Garland, Securities and Exchange Commission Chairman Gary Gensler, and Commodity Futures Trading Commission Chairman Rostin Behnam, the Missouri Republican demanded “information and all correspondence between their agencies and Democratic Party officials following the collapse of the cryptocurrency exchange FTX,” according to the Senate Judiciary Committee member’s website.
In his two-page letter, Hawley wrote, “The recent revelations about the cryptocurrency exchange platform, FTX, and its affiliated hedge fund, Alameda Research, are stunning. Public reporting has revealed that these businesses and their executives, most notably Sam Bankman-Fried, a top donor to the Democratic Party, defrauded customers of billions of dollars. The perpetrators of these criminal acts and their enablers must be investigated and prosecuted to the fullest extent of the law, and you must conduct a full conflict-of-interest review to ensure that Mr. Bankman-Fried’s status as a top donor to the Democratic Party did not insulate him from oversight and accountability.”
“Mr. Bankman-Fried’s fraudulent acts erode trust in U.S. financial markets. But they also have had political ramifications. The success of Mr. Bankman-Fried’s criminal enterprise briefly made him one of America’s richest men. And he deployed his ill-gotten gains in service of the Democratic Party, emerging in recent years as its second largest individual donor behind only George Soros,” Hawley wrote
The ubiquitous uber-rich whiz kid, Bankman-Fried aka SBF was the second biggest donor to the Democratic Party, trailing only billionaire malefactor George Soros, and had pumped $40 million into what the New York Post described as “‘get-out-the-vote’ and other shadowy ballot-harvesting mechanics for the midterms,” only to have the exchange file for bankruptcy days after the election in what would be a major scandal in a country with an honest media.
Hawley continued, “During the 2020 elections, Mr. Bankman-Fried donated $10 million to Joe Biden’s presidential campaign. During the 2022 midterm elections, he donated nearly $37 million to Democratic candidates and causes. And earlier this year, he indicated that he was willing to spend an unprecedented $1 billion in support of the Democratic Party in the 2024 elections.”
“To be clear, Mr. Bankman-Fried funded his lavish donations to the Democratic Party through rampant fraud. The net result was that billions of dollars were stolen from investors and handed over to Democrats and left-wing organizations,” the senator’s letter reads. “The fact that this scheme was revealed immediately after the midterm elections raises serious questions about whether federal regulators and law enforcement faced conflicts of interest in identifying, investigating, and thwarting the fraudulent scheme.”
“Prior to the public revelation of Mr. Bankman-Fried’s scheme to withdraw customer deposits from FTX to offset losses incurred by Alameda, had your respective agencies initiated an investigation into allegations of fraud perpetuated by FTX, Alameda, and their executives? If so, when were the investigations initiated and when were they expected to conclude?” Hawley asks.
“Have FTX, Almeda, or any of the executives associated with these companies previously entered into confidential settlements or deferred prosecution agreements with your respective agencies? If so, please provide all materials associated with these settlements and agreements,” Hawley’s letter reads. “Please provide all correspondence between your agencies, the Biden Administration, the Democratic National Committee, the Democratic Congressional Campaign Committee, and the Democratic Senatorial Campaign Committee regarding FTX, Alameda, and its executives, including Mr. Bankman-Fried, Caroline Ellison, and Gary Wang.”
The recipients have been given until November 25, 2022, to provide answers and documents “So that Congress can better fulfill its oversight of executive action and inaction,” wrote Hawley.
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