On Wednesday’s broadcast of NBC’s “MTP Now,” Rep. Brad Sherman (D-CA) stated that it’s not good enough for politicians who received donations from FTX founder and former CEO Sam Bankman-Fried to donate the money to charity, and instead they need to return the money to investors by giving the money to a bankruptcy trustee fund once one is established because the money “was never Bankman’s money.”
Host Chuck Todd asked, “[T]his is turning out not to be his money that he may have spent and that he may have spent investor money in this, which is another level of fraud. But what does this mean for the political entities that took this?”
Sherman responded, “Well, I think some have given it to charity, but I think –.”
Todd then cut in to ask, “Is charity the right answer?”
Sherman answered, “The right answer is back to the investors. Because it was never Bankman’s money.”
Sherman added, “I’ve told a colleague or two to put the money aside and wait until the bankruptcy trustee has a fund that people can return money to and add it to other assets the bankruptcy trustee’s able to put together.”
Follow Ian Hanchett on Twitter @IanHanchett