Judge approves delaying forfeiture of donations from FTX-funded PACs

A federal judge signed off on a petition from United States Justice Department officials requesting more time to assess the “forfeitability of funds” former FTX CEO Sam “SBF” Bankman-Fried made to several political action committees (PACs).

In a July 26 filing in the US District Court for the Southern District of New York, US Attorney Damian Williams said his office was continuing discussions with Bankman-Fried’s attorneys regarding funds sent to five PACs in 2022. The primarily Democratic-focused committees included the House Majority PAC, Senate Majority PAC, FF PAC, FF USA Action, EMILYs List, and GMI PAC.

Judge Lewis Kaplan approved the prosecutors’ petition, extending the deadline for the PACs to file third-party petitions from July 26 to Sept. 13. Bankman-Fried reportedly donated roughly $40 million directly to political candidates and PACs in 2022 before the downfall of FTX.