Democrats' Senate PAC plans to return $3 million in donations from disgraced former FTX executives
The Senate Majority PAC plans to return contributions from former FTX CEO Sam Bankman-Fried and the company's ex-head of engineering, Nishad Singh.
"Following the serious allegations against FTX, Senate Majority PAC previously set aside the contribution amounts from Sam Bankman-Fried and Nishad Singh with the intention of returning the funds once we receive proper direction from federal law enforcement officials based on their legal proceedings," a PAC spokeswoman told CNBC on Tuesday.
Bankman-Fried contributed nearly $40 million in the midterms, and most of the money went to Democrats. Singh$8 million to federal campaigns during the 2022 midterms. The former FTX director of engineering has not been charged with any crimes.
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