According to financial reports filed by the Democratic Party of New Mexico’s federal political action committee (PAC), the entity received $10,000 from disgraced crypto founder Sam Bankman-Fried on August 31, 2022. He founded the failed crypto exchange FTX, which he used to launder money, according to a federal indictment.
The failed crypto mogul may have illegally taken about $10 billion in FTX customers’ funds for his trading firm, Alameda Research, whose future is also in peril, according to the Wall Street Journal. He is now worth close to nothing after his downfall.
Bankman-Fried was one of the Democrat Party’s largest donors until his downfall. On December 13, he was indicted on charges of conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance violations.
The disgraced ex-crypto boss gave mostly to Democrats, although some Republicans received cash from him as well. The Democratic Party of New Mexico, however, was one of the largest 25 recipients of campaign donations.
The Democrat Party has not refunded Bankman-Fried’s contribution, nor has it made any public statements regarding taking the large contribution from the accused money launderer.