The US government is currently negotiating with multiple Political Action Committees (PACs) to request the return of $13.25 million in political donations under the names of FTX founder SBF and former FTX engineering director Nishad Singh. These political contributions were primarily directed towards political organizations associated with the Democratic Party (Biden administration). Recently, a US court approved the government’s request to extend the deadline for responding to petitions from third-party affiliated groups to January 15, 2025, in order to give the government and related groups more time to negotiate and reach a consensus without resorting to litigation.
Court agrees to extend negotiation period until 2025
According to court documents, New York District Judge Lewis Kaplan, who oversees the FTX case, recently approved the US government’s request to extend the deadline for responding to third-party affiliated petitions from the original date of November 1, 2024, to January 15, 2025. The purpose is to provide the government and related political organizations with more time to negotiate in hopes of reaching a consensus without resorting to litigation.
Actively negotiating with multiple political organizations, political donations totaling $13.25 million
Currently, the US government is negotiating with multiple Political Action Committees, such as the Senate Majority PAC, Future Forward PAC, Future Forward USA Action, Emily’s List/Women Vote, and GMI PAC, all of which have previously received political donations from SBF and Singh. Data shows that the two individuals have donated a total of $13.25 million in political contributions, with some funds even coming from blank checks signed by Singh.
According to the information, Future Forward PAC received $6 million under the names of SBF and Singh, GMI PAC received $2 million, Senate Majority PAC received $3 million, with $2 million from Singh and $1 million from SBF. Women Vote received $2.25 million under Singh’s name.
(FTX founder Sam is a staunch Biden supporter! Contributes large sums of political donations for the election, totaling over $5 million)
Former FTX executive Singh assists in investigation, prompting US government action
Recently, former FTX engineering director Singh cooperated with the US prosecutors in the investigation and accused SBF, successfully avoiding imprisonment and receiving a three-year probation. Singh has admitted that these donations were made at the request of SBF, including the signing of blank checks. This judgment has prompted the US government to expedite its request for related political organizations to return the alleged illicit gains from FTX.
(Former FTX engineering director Nishad Singh receives three-year probation, previously confronted SBF over funding gap)