PANews reported on November 2 that, according to a new document from a federal court, the U.S. government is negotiating the return of up to $13.25 million in political donations made by former FTX executives. The document was approved by Judge Lewis Kaplan, who is handling the criminal case against former FTX executive Sam Bankman-Fried and his subordinates, and it requests that the government continue negotiations with multiple political action committees (PACs) before January 15.
The government requested more time "to discuss with PACs the forfeiture of funds obtained from the defendants and their co-conspirators," and named several groups: the Senate Majority PAC, the Future Forward PAC, and Future Forward USA Action. These groups are typically aligned with the Democratic Party or support liberal causes.
OpenSecrets data shows that former FTX engineering chief Nishad Singh donated about $13.25 million to these groups. Nishad Singh testified that he donated at the request of Bankman-Fried, sometimes signing blank checks for donations. Singh was recently sentenced to prison time along with three years of supervised release for testifying against his former friend and boss Bankman-Fried, successfully avoiding jail time.