About That Time SBF Accidentally Gave Beto O'Rourke $1 Million In Stolen Customer Funds...

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by Tyler Durden
Wednesday, Oct 18, 2023 - 05:00 PM

On Monday, former FTX engineering chief Nishad Singh testified that FTX had used stolen customer money from Alameda Research to make political donations, even after learning it owed $13 billion to customers. In short, Sam Bankman-Fried was using customer funds to make political donations to Democrats, according to Singh's testimony.

One of those Democrats was failed Texas gubernatorial candidate Beto O'Rourke, who in November of last year reported returning a $1 million donation from SBF just four days before the November election because he was 'uncomfortable receiving such a large, unsolicited donation.'

In truth, the adderall-addicted SBF (or one of his employees) fat-fingered what was supposed to be a $100,000 donation, and instead ended up being $1 million.

In January, the Washington Free Beacon reported that O'Rourke kept the $100,000.

As journalist Molly White (@molly0xFFF), who has provided amazing SBF trial coverage, noted on Tuesday via "X," they FTX was able to get $900,000 back "through the application of social, political, and legal pressure," according to SBF adviser Keenan Lantz, a top executive at "Guarding Against Pandemics" who helped handle paperwork for political donations and other operational matters.

"They'll hang onto it until 11/4 - at which point the refund won't be reported until January," Lantz added.

...which brings up an interesting question posed by Twitter user Matt Beebe, who noted that O'Rourke's fraud - secretly agreeing to hold the funds until November 4, allowed them to lie about how much money the campaign had raised headed into the election.

Note that O'Rourke bragged about raising $25.18 million in the latest period vs. Greg Abbott (R), who had raised 'nearly $25 million.'

Some have even suggested it was money laundering.