Representative Jake Auchincloss, the vice chair of the House committee overseeing the finance industry, received $5,800 dollars from the embattled FTX founder.
Representative Jake Auchincloss, a Massachusetts Democrat, defended keeping a campaign donation from Sam Bankman-Fried following the FTX founder’s arrest on Monday.
Bankman-Fried was arrested in the Bahamas Monday and charged with wire fraud, securities fraud and money laundering, one day before he was scheduled to testify before the House Financial Services Committee. He began facing scrutiny over his financial dealings earlier this year. In November, the beleaguered cryptocurrency exchange declared bankruptcy, meaning its investors could be left with nothing.
The FTX CEO also made headlines for donating millions of dollars to Democratic candidates throughout the 2022 midterms, including Auchincloss, the vice chair of the Financial Services Committee.
Bankman-Fried contributed $5,800 to Auchincloss’ re-election campaign throughout 2022, according to Federal Election Commission data.
