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Search resuls for: "Ethics In Washington"


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News of the FTX's fall first prompted questions to lawmakers about Bankman-Fried's political donations. Bill Cassidy of Louisiana and John Boozman of Arkansas said they would donate Bankman-Fried’s campaign contributions, though they did not specify the charities they intended to donate the money to. Bankman-Fried also poured millions into super PACs that support candidates outside of their campaigns, including the Senate Majority PAC, or SMP, a super PAC supporting Democratic Senate candidates. The disclosed sums likely don't capture the full breadth of Bankman-Fried's political spending. "The candidates who received money from dark money organizations don't really have to answer for it," Sherman said.
Federal authorities on Tuesday charged FTX co-founder Sam Bankman-Fried with using what they said was tens of millions of dollars of misappropriated customer funds to make illegal political donations to both Democratic and Republican candidates. He then used those funds to make "large political donations," to make investments and buy "lavish real estate," the SEC complaint alleged. The campaign finance allegations come days after a private watchdog group asked the Federal Election Commission to investigate Bankman-Fried's political contributions. Most of Bankman-Fried's publicly disclosed campaign contributions, which totaled nearly $40 million in the 20222 election cycle, went toward Democrats, FEC records show. "The question is whether regulators, including the SEC, backed off from aggressive investigation of FTX because of this political influence," Painter said.
A federal indictment alleges FTX CEO and founder Sam Bankman-Fried committed several campaign finance violations. Bankman-Fried is accused of donating to politicians under others' names, wire fraud, money laundering, and more. And among the litany of charges levied against Bankman-Fried, he's accused of committing several campaign finance violations. One way that Bankman-Fried defrauded the US, the indictment alleges, is by donating to candidates and political action committees using other people's names. Using these methods, the indictment alleges Bankman-Fried and unnamed others donated more than $25,000 in total in a calendar year, in violation of campaign finance regulations.
The Campaign Legal Center fights against lawlessness and unethical behavior in politics. Brendan Quinn, a spokesperson for the Campaign Legal Center, says the nonprofit organization cannot return or give away Bankman-Fried's money because the money is already spent. Asked whether the Campaign Legal Center would consider disgorging an amount of money equivalent to what Bankman-Fried contributed, Quinn noted that the Campaign Legal Center is not a political candidate or committee. The Campaign Legal Center has not yet provided Insider a copy, first requested December 2, of the most recent IRS 990 tax document filed by Campaign Legal Center Action, its advocacy arm. Former President Donald Trump has been a frequent target of the Campaign Legal Center's legal and ethics efforts.
An ethics watchdog group has asked the Federal Election Commission to investigate former FTX CEO Sam Bankman-Fried for alleged "serious violations" of election law, citing his admitted contributions of "dark" money to Republican-aligned groups during the 2022 primary season. Anyone can file a complaint with the FEC if they suspect a violation of federal election campaign laws. The complaint contains a link to the Nov. 16 interview Bankman-Fried gave to Tiffany Fong, who posted the discussion on her YouTube channel. "All my Republican donations were dark," Bankman-Fried went on to say, the complaint noted. In the interview, Bankman-Fried said that those contributions were "all for the primary."
The Trump Organization was found criminally liable of tax fraud on Tuesday after a six-week trial. A ban could end his 'exorbitant' billing of Secret Service agents who protect him at his resorts. At the Trump Organization headquarters in Trump Tower on Fifth Avenue, the cars, apartments, and tuition were considered part of Weisselberg's $940,000-a-year income, prosecutors said. Secret Service a tough targetWatchdogs concede that Trump's Secret Service billing is a tough target. Barring the unlikelihood of a cash-free solution — Trump letting the Secret Service "stay at our properties for free," as Eric Trump once promised, or forgoing Secret Service protection voluntarily, as Richard Nixon did — Trump's Secret Service spigot may well remain open, watchdogs acknowledge.
The watchdog group CREW says it will seek to disqualify Trump from running for president in 2024. Section 3 of the 14th amendment bars candidates who've "engaged in insurrection or rebellion" against the US. The group noted that Otero County Commissioner Couy Griffin was removed from office under that law. The group cites Section 3 of the 14th amendment to the Constitution, which prohibits candidates who have "engaged in insurrection or rebellion" from holding any public office in the United States. Asked for clarification, CREW communications director Jordan Libowitz told Insider that the group is "not limiting our options."
White House Chief of Staff Ron Klain received a warning for violating the Hatch Act after he retweeted a political group's post from his government Twitter account. The Hatch Act prohibits government officials from using government resources for political activities. Miller was not the only member of the Trump administration to violate the Hatch Act during his time in office. Jean-Pierre herself is cautious about running afoul of the Hatch Act. She frequently reminds reporters from the White House briefing room podium that she cannot comment on political issues because of the act.
A ban could end his 'exorbitant' billing of Secret Service agents who protect him at his resorts. Add to that the recent news that the Trump Organization had billed the Secret Service more than $ 1.4 million to stay at Trump properties during the former president's time in office. At the Trump Organization headquarters in Trump Tower on Fifth Avenue, the cars, apartments and tuition were considered part of Weisselberg's $940,000-a-year income, prosecutors allege. Secret Service a tough targetWatchdogs concede that Trump's Secret Service billing is a tough target. Barring the unlikelihood of a cash-free solution — Trump letting the Secret Service "stay at our properties for free," as Eric Trump once promised, or forgoing Secret Service protection voluntarily, as Richard Nixon did — Trump's Secret Service spigot may well remain open, watchdogs acknowledge.
Trump twisted the Secret Service’s protective mission into a personal cash cow — all while lying about it to taxpayers. When Eric Trump visited Washington a few months earlier, the nightly government rate was supposed to be capped at $242 per night; the Trump hotel billed the Secret Service $1,160. But we’ve never seen a commander-in-chief and his family repeatedly use the Secret Service to line their pockets in this way. There’s no reason the Trump family needed to stay at Trump properties. The stays became such a moneymaker for the Trump family that the Secret Service had to request a larger budget to cover all of its trips to Trump properties.
But ethics experts say the bill has a major loophole when it comes to blind trusts, and is too broad. Broadly speaking, a blind trust is a financial arrangement wherein people turn over their assets to be managed by an independent entity to prevent a conflict of interest. Several previously-introduced bills to ban stock trading allow for lawmakers to place their stocks into a blind trust, rather than fully selling off existing stock holdings. "You'd be able to create any kind of a trust you want to, put anything you want into it, and call it a blind trust, even though there wouldn't actually be any way to prove that it is, in fact, a blind trust." Payne also said the blind trust loophole was a "small risk," but that in an optimistic scenario, "that language allows this law to grow for future circumstances that you just can't be prepared for."
Some members of Congress file financial disclosures that are basically illegible. Dusty Johnson of South Dakota are introducing the Easy to Read Electronic and Accessible Disclosures (READ) Act, which would allow users to search, sort, and download financial disclosure data filed by House members, Senators, and candidates for both chambers. "This means that government records, including financial disclosures filed by elected officials, must be easy to find and easy to understand." "These requirements will help bring critical transparency to the financial situation of members of Congress and more opportunity to spot potential conflicts of interest," added Hedtler-Gaudette. The bill comes amid a broader push to ban members of Congress from trading stocks.
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