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FTX Group, a bankrupt crypto exchange, is asking politicians to return the tens of millions of dollars in campaign contributions it gave before its implosion last November.
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The company is sending confidential letters to political beneficiaries, including politicians, and reserving the right to force repayment through court action if necessary.
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FTX’s estimated political donations amount to $93 million and went to a variety of lawmakers and causes across the political spectrum.
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The contributions were part of a major influence campaign that impacted one in three members of the current U.S. congress.
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FTX’s top brass is now facing criminal charges for alleged multibillion-dollar fraud.
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Some politicians have tried to cancel out the taint of scandal by donating equivalent amounts to charities.
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The debtors tasked with recouping creditors’ losses warn that these actions do not prevent them from seeking recovery.
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The end of the month is the deadline for the politicians to return the money.
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The case escalates the fight over the political donations from FTX.
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The confidentiality of the letters is emphasized.