Carbajal plans to dump money from disgraced FTX megadonor

November 20, 2022

Congressman Salud Carbajal

By KAREN VELIE

Central Coast Congressman Salud Carbajal is one of a handful of politicians who plan to dump contributions they received from disgraced FTX founder Sam Bankman-Fried.

Bankman-Fried donated approxamtly 40 million dollars to primarily Democratic campaigns during the 2021-2022 election cycle. FTX, a cryptocurrency platform, filed for bankruptcy on Nov. 11 leading to allegations of mismanagement and possible fraud.

Following the allegations of wrongdoing, Carbajal made plans to donate the $5,800 he received from Bankman-Fried in 2022 to a local charity, Ian Mariani, a spokesman for Carbajal, told the New York Post.

Bankman-Fried donated $2,900 to Carbajal’s primary election campaign and $2,900 to his general election campaign. Personal donations to U.S. House of Representatives candidates are limited to $2,900 per campaign.


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matthwy58

A fool and his cryptocurrency are soon to part.


bb

While it’s great Carbajal is not using these donations for his campaign. It seems like it would be a better idea for all of the politicians who recieved money from FTX/Sam Bankman Fried to put the money in a fund for the victims of this scam. There’s alot of people who invested their retirement and life savings into FTX. Their unlikely to recover their losses and will probably lose everything they own or have to file for bankruptcy. If the politicians setup a fund for the victims of FTX’s scam with the donations they recieved from Sam Bankman Fried then these victims could recover their losses.


NorthCountyGuy

Money is not the problem. Money Politicians are the problem. Money Politicians have zero inegrity because Money Politicians are prostitutes of the highest bidders.


Rambunctious

Get money out of elections… we need to implement public financing of elections and free network donated TV time for debates and a set number of ads per candidate…

Dark money like this will destroy our republic….


copperhead

You appear to be forgetting that money and power the reason these crooks seek elected office.


kayaknut

So if you mean stopping private entities from spending their money to buy something to support a candidate or issue, what will the punishment be if someone, a person, company, union, or PAC is caught doing so?


kettle

” what will the punishment be”


For Jesse Benton, he faces up to 20 years in prison.


kayaknut

That’s foriegn money which already is illegal, I asked about an entities own money which currently is legal but may not be if it was banned.


kettle

Plea deals, allways plea deals.


“Sorenson resigned from office on October 2, 2013, after Iowa’s Senate Ethics committee found “probable cause” that Sorenson violated state ethics rules by taking illegal payments from the Michele Bachmann and Ron Paul campaigns in the 2012 Republican presidential primaries and that “his denials of doing so constituted felonious misconduct in office.” He was sentenced to 15 months in prison after pleading guilty to one count of causing a federal campaign committee to falsely report its expenditures to the FEC and one count of obstruction of justice.”


“Benton was previously convicted in 2016, when a former Iowa state senator admitted to taking $73,000 in payments from Ron Paul’s presidential campaign in exchange for switching his endorsement to Paul. He was sentenced to two years of probation and a $10,000 fine.”


paragon

If you want to get money out of elections, look at the Citizens United Supreme Court case, which opened up the floodgates for super PACs to pour millions of dollars of dirty money into elections. And then look at which justices and politicians supported that ruling.