Posted on 02/06/2023 9:09:27 AM PST by CFW
Axios is positioning this announcement as FTX asking for political donations to be returned. However, the request is realistically from the FTX debtors.
(Via Axios) – Bankrupt crypto exchange FTX is sending notices to former donor recipients asking for the donated funds to be returned, the company said in a press release Sunday.
Why it matters: Former FTX CEO Sam Bankman-Fried and FTX Digital Markets Co-CEO Ryan Salame were two of the largest political donors during the last election cycle. Now the company’s debtors want the money back.
(Excerpt) Read more at theconservativetreehouse.com ...
It is normal in a bankruptcy for the lawyers to try to “claw back” all withdrawals and donations made in the last 3 months before bankruptcy. So this is a pretty normal step to take. Will be interesting to see how successful the effort is, as I imagine many politicians would say the coffers are empty following the election.
You can be assured if Trump had taken any, all hell would break out. But since it’s Commie/Marxists/Socialists that’s perfectly ok.
Didn’t some of the recipients virtue signal by sending the money to favored charities rather than keep it once it was clear FTX was a fraud? What happens to that money?
I glanced at the list and noticed how many politicians “donated” the money to their favorite charity. They are so clueless. You don’t get to accept misappropriated money from shareholders and then get to send that money on to your designated entity, in your name, of course. You have to give the money back to the shareholders.
You left out Pervert.
“Didn’t some of the recipients virtue signal by sending the money to favored charities rather than keep it once it was clear FTX was a fraud? What happens to that money?”
________
This was some type of money laundering operation. Tax payer dollars sent to Ukraine, converted to crypto, then to FTX, then to cash donated to politicians, then to “charity” groups. It’s above my pay grade to determine exactly how it was done since I do not have the devious mind to come up with such a scheme, but I do recognize obvious corruption when I see it. And, I do suspect all this money came out of OUR pockets!
They had better shuffle it back quickly or else it gets covered continually by the media.
Here are the ones from our side who accepted the pay-offs:
Boozman, John AR
Britt, Katie AL
Budd, Ted NC
Burr, Richard NC
Cassidy, Bill LA
Collins, Susan ME
Ernst, Joni IA
Fischer, Debra NE
Grassley, Chuck IA
Hoeven, John ND
Johnson, Ron WI
Lee, Mike UT
Moran, Jerry KS
Murkowski, Lisa AK
Paul, Rand KY
Romney, Mitt UT
Rubio, Marco FL
Sasse, Ben NB
Schmitt, Eric MO
Scott, Tim SC
Thune, John SC
Vance, JD OH
Mostly the usual Deep State friends, but some real disappointments on this list.
You missed McCarthy, and he’s not responded.
Clawback is messy. But the pols accepted the benefit of the illegal funds and need to return it to the bankruptcy trustee.
Ha ha. Good luck with that!
Do they actually have the right to get these donations returned? If you give something later you can just decide you want it back?
Yes. I found this out the hard way after an earlier crypto bankruptcy. A couple lawyers had to explain it to me. Basically whenever a company goes bankrupt, the bankruptcy lawyers go after anyone who made withdrawals or received donations for 3 months before the bankruptcy. The idea is to prevent friends and family of a company that is about to go bankrupt being paid out while other creditors lose everything. But mostly it just hits innocent people who lost out in the bankruptcy, and then find out they are losing MORE due to the clawback process. I understand it, but it sucks.
Uh, no.
Link? Hopefully, somebody more trustworthy then "Gateway Pundit".
FTX asking democrats for money back I don’t care who you are that’s funny.
I call BS. Not buying it at all. Notice how the donor list shows the almost all the R candidates not responding but the D’s doing the right thing and returning or donating the money?
“the bankruptcy lawyers go after anyone who made withdrawals or received donations for 3 months before the bankruptcy”
The quite good Netflix docuseries on Bernie Madoff goes into some detail on this.
In that one they clawed back billions from anyone who had made a profit off Madoff’s scheme.
Very painful for a lot of people who thought they had what they needed for retirement, but it also saved a lot of investors who lost everything.
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