FTX Grants To US Legislators To Be Withdrawn At DOJ’s Direction

Key Points:

• The US Department of Justice (DOJ) has sent a letter to the country’scountry’s lawmakers, instructing them to turn over FTX contributions to the US Marshals.
• Grant recipients have also complied after receiving the DOJ’sDOJ’s notification.
• Surrender and recovery funds are typically geared toward repaying customers, victims, and creditors.

According to Blockworks, the US Department of Justice (DOJ) has sent a letter to the country’scountry’s lawmakers, instructing them to turn over FTX contributions to the US Marshals.

Representative Bob Latta, R-Ohio, said Latta’sLatta’s campaign voluntarily handed over the funds shortly after receiving notice from the Justice Department, and the deal appeared to have closed earlier this year. And a pro-Lori Chavez-DeRemer campaign of the Ohio Republican Party also funneled FTX donations to it, a spokeswoman said.

Representatives Marc Molinaro, RN.Y., Elise Stefanik, RN.Y., and Brian Fitzpatrick, R-Penn., also transferred FTX-related donations to the US Marshals, according to multiple reports.

In addition, several lawmakers have previously stated that they have or have transferred FTX contributions, including Illinois Democratic Senator Dick Durbin and Illinois Democratic Representative Jesús “Chuy”” García, New York State Representative Ritchie Torres, and others.

News of the funds capitulating comes months after several lawmakers said they had or will donate political donations they received from the now-bankrupt exchange and founder Sam Bankman. -Fried, who is currently facing 13 federal charges.

Surrender and recovery funds are typically geared toward repaying customers, victims, and creditors.

The U.S. Southern District of New York trust law office sent an email to Democratic election attorney Marc Elias, requesting details of SBF donations. Similar emails were sent to other members of the Democratic and Republican parties.

The ongoing investigations surrounding the SBF’sSBF’s political contributions have drawn attention as the former CEO of FTX is the Democratic Party’sParty’s second-largest individual donor, having spent as much as $39.8 million.

Today, FTX has filed three lawsuits to recover company’s shares from SBF and his 2 associates and recover funds from Embed’s former founders and executives.

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