Posted on 08/02/2024 3:55:16 PM PDT by Libloather
A cryptocurrency executive found it 'hilariously funny' that the Democratic Party of Oregon reported his donation under another name, nearly leading to federal criminal charges.
While Nishad Singh was working as an engineer for the now-disgraced FTX at its Bahamas headquarters, he was told by a colleague he hardly knew to send $500,000 to the Party to make Singh and the company look good, according to Oregon Live.
Singh signed off on sending the half-million dollars via his account with Nevada-based Prime Trust, which specializes in wiring cryptocurrency to ordinary bank accounts.
The Oregon Democrats scrambled to figure out how to credit the massive contribution after receiving it on October 4, 2022, trying to meet the deadline to report it to state campaign finance regulators.
Records show they emailed Singh and others connected with the transfer, discussed the matter internally and researched Prime Trust, Oregon Live reported, noting that Singh was never actually contacted about the donation.
The Party also ignored multiple warnings that Prime Trust was not the source of the cash.
Singh's name appeared on the wire transfer paperwork, identifying him as the 'donor of record.'
Prime Trust was ultimately listed as the donor after an FTX contractor who helped arrange the payment told the Oregon Democrats: 'Nishad prefers Prime Trust (though not strongly) so go [with] that. Thx!'
(Excerpt) Read more at dailymail.co.uk ...
Sam Bankman-Fried gave multi-million-dollar loan to top engineer Nishad Singh to splurge on 'egregious, unnecessary and selfish' $3.7M vacation home - despite fearing for FTX's finances just a MONTH before crypto exchange collapsed
https://www.dailymail.co.uk/news/article-12640481/Sam-Bankman-Fried-FTX-Nishad-Singh.html
So far, so good!
Singh signed off on sending the half-million dollars via his account with Nevada-based Prime Trust, which specializes in wiring cryptocurrency to ordinary bank accounts.
So "Prime Trust" was merely the intermediary, for the purpose of effecting the money transfer. So far, so good!
Prime Trust was ultimately listed as the donor after an FTX contractor who helped arrange the payment told the Oregon Democrats: 'Nishad prefers Prime Trust (though not strongly) so go [with] that. Thx!'
Here's where it gets really fishy. Why would Singh donate half a million dollars "to make himself and his company look good," and then agree to have "Prime Trust" listed as the donor?
He should have just donated to the "Human Fund!"
Regards,
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