Beto holds onto $100K from Sam Bankman-Fried despite promise to return tainted crypto funds.
Robert Francis “Beto” O’Rourke Holds Onto Controversial Campaign Contribution
Last year, Robert Francis “Beto” O’Rourke made headlines when he vowed to return a massive campaign contribution from Sam Bankman-Fried, a disgraced cryptocurrency kingpin accused of defrauding customers out of billions of dollars. However, bankman-fried-after-pledge-to-return-tainted-crypto-cash/” title=”Beto holds onto 0K from Sam Bankman-Fried despite promise to return tainted crypto funds.”>recent campaign finance records reveal that O’Rourke has yet to fulfill that promise, keeping $100,000 donated by Bankman-Fried to his failed gubernatorial campaign.
O’Rourke’s decision to retain the funds has raised eyebrows, especially considering the damning developments in Bankman-Fried’s case. The cryptocurrency mogul was indicted on fraud and campaign finance charges, with prosecutors alleging that he made substantial political donations to enhance his personal standing and gain favor with candidates who could advance legislation beneficial to his crypto trading company, FTX.
Despite these revelations, O’Rourke has not indicated whether he plans to run for political office in the future. If he does, he may tap into the funds from his gubernatorial campaign war chest. However, O’Rourke has faced a string of political defeats in recent years, including losses against Texas Republican governor Greg Abbott and Republican senator Ted Cruz.
Bankman-Fried’s contributions to Democratic candidates and political action committees have also come under scrutiny. He donated over $40 million, including $5 million to a political action committee supporting Joe Biden’s 2020 campaign. Additionally, he gave $300,000 to Democrats on the House Financial Services Committee, which oversees the cryptocurrency industry.
These donations granted Bankman-Fried access to influential circles in Washington, including multiple visits to the White House and meetings with top advisers. He even attended a retreat for House Democrats, where he mingled with Rep. Maxine Waters, who was then chairwoman of the House Financial Services panel.
Despite the controversy surrounding the contribution, O’Rourke has remained silent on the matter and could not be reached for comment.
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