Dame: Balint, Welch and VT Democratic Party took big campaign $$ from Bankman-Fried

by Paul Dame, VT GOP

Weeks ago we knew that both of Vermont’s Federal Candidates, Peter Welch and Becca Balint had accepted the max donation from the crypto billionare, but there was a new discovery from the weekend that shows it reaches further.

While Balint & Welch have promised to donate the money to their own hand-picked non-profits, this just allows them to gain attention for the charities of their choice, and continue the fraud that FTX has perpetrated by moving money into yet another Democrat-supported organization instead of giving the money back to the victims who have been defrauded.

Paul Dame

Since the allegations suggest that Bankman-Fried basically embezzled this money from his company, and used it to fund many political campaigns, it also raises questions of whether these personal donations were a way to circumvent campaign finance law, which has a strict prohibition on corporate contributions.  Donations directly from the corporations would have been barred – but if the funds go into Bankman-Fried’s personal account first, that would be a loophole.

But Balint & Welch aren’t the only Vermonters who have received cash from the cyrpto conman.  An FEC report confirms that the Vermont Democrat Party also took in $9753.21 from Bankman-Fried on August 31st this year.  Dozens of other Democrat State Parties received similar figures that look like one hefty processing fee short of the $10,000 limit.

This raises many questions about the similar donations.  Did Vermont Democrats know where the money was coming from?  Did they have any special instructions on what to do with the money, and was it funneled to other out-of-state interests in swing states like Arizona or Georgia to avoid campaign finance limits?  Was this donation solicited? By whom?  Or did it come in as a random online donation?  Did anyone at the VT Dems have contact with this generous donor?

We have never seen this level of fraud so closely tied to political donations that support predominantly (though not exclusively) one political party.  While Enron and Madoff were also depriving investors of incredibly large sums of money, Bankman-Fried introduced a new element that moved from greed into a corruption of our political system. 

It’s nothing new that millionaires and billionaires have been pouring their money into campaigns on both sides.  But Bankman-Friend was the first one not to spend millions of his own money, but millions of dollars that he owed back to his clients.  Meanwhile those clients had no idea that he was using it to fund his own political pet projects, some of which likely may have been contrary to their own.

Democrats have to make it right and distance themselves from this corruption.  The Vermont Democrat Party should return the nearly $10k it received from Bankman-Fried, so that law enforcement can use that money to make defrauded investors whole.  Also the incoming Attorney General has an opportunity to investigate the matter, especially if there are any Vermonters who had investments in FTX.  It wouldn’t be the first time that the State of Vermont joined in a lawsuit to protect consumers. 

With a broad-reaching scandal like this with donations made across the country, Vermont Democrats must act swiftly and loudly to reject this fraud, work to make it right with the victims and can also call on their fellow states who also profited from this fraudulent theft to do the same.

The author is an Essex Junction resident and chair of the Vermont Republican Party.

Categories: Commentary

25 replies »

  1. Let’s pray that the Brunson vs Adam case which is on the docket at the Supreme Court for January 6, 2023 will be voted positively and passed. Then all these crooks will be gone instantly! Yes I know-it sounds too good to be true–but guess what–it IS true if this case is passed.

    • Just did a quick glance at that case.SCOTUS will never let that result happen. It would toss pretty much our entire govt and there’d be nothing but chaos and free reign for any group to subvert the constitution.

      • The Brunson case is real. It would be fine with me if the whole government was tossed out because they are tossing we, the people, out with their actions of destroying our country. (If you need to ask what that is then you’re not paying attention to the real news). I believe that there is a ‘behind-the-scenes plan should that happen which will bring finally truth and honesty back to us and restoration of our country. I sincerely hope so otherwise we soon won’t have a country left.

  2. Welch and Balint should resign because of their acceptance of “dirty money”. They know better. They’re not absolved of corruption by donating it to charity or claiming ignorance. Don’t they themselves or their staff validate the source of donations? If they don’t, how can any of them they be trusted? Furthermore, the money should be returned to the rightful owner.

    • Welch and Balint should return the money from who it was stolen. Donating it to a “charity” of their choice does not restore their ill-gotten gains and merely allows them to take credit for the donation personally and tax wise. It is regrettable that they feel no remorse. Shame on them!

    • I am in total agreement with you Cathy. This money was laundered from the money that Joe gave to Ukraine. It’s the American peoples money that he used to send to a foreign country for their war with another country that is none of our business to be involved in. Why is he sending that money there anyway? Why not help the people of our country that are struggling through this era. These 2 have no business excepting money like that, that was laundered and still stay in office. Time these 2 go and any one else that received illegal funds during that election.

  3. Balint was at the Whitehouse ~20 days before she received the donations. There’s your connection, the question is what was promised? Crypto support most likely or is there more?

    FTX was also funding/backing the company called Together Trial that ran the trial that said that Ivermectin wasn’t an effective treatment for Covid.

    Covid, Election Theft, Crypto, Perversion of our school and justice systems it’s all related and all a massive attempt to subvert our country and our way of life to usher in totalitarian transhumanism. Look around you, think back to 5 years ago and ask yourself what has changed?

  4. All funds should go back to the people that had their money stolen and not to Dems favorite liberal charities.

  5. The funny thing about this is that Bankman MIGHT one day realize that his idyllic party used him and then threw him right under the bus once they got his funding. Where are they now? Why, they’ll be there pointing fingers at him just as the Republicans are doing. Live by the sword, die by the sword, kid.

  6. When I heard they were donating that money to charities I wondered why they were allowed to do that. It’s not theirs to give.

    • That is complete nonsense! Large corporate agricultural industries, perhaps, but you should not be accusatory to the independent family farmers who struggle many years to survive and support our economy and feed our families.

  7. What $ is there to give back ?
    It’s invisible currency
    Funny money
    Digital corruption files
    Fantasy cash
    Fake Dough
    Sham Funds

  8. Surprisingly quiet from Sen Sanders- He has been outraged for years over Citizens United which turns out to be child’s play compared to Bankman-Fried. That money should all be returned to the depositors via a receiver- and all charities who received “second hand” money from Welch et al should be required to return it.

  9. You want to have a good laugh, read Ms. Balint’s words of disavowal and “not knowing” in Vermont Digger’s current piece on this. Seriously….you want the public to buy the idea that you are an ignorant fool, Ms. Balint? Seriously…when tens of thousands of slick cards and brochures about you shower Vermont mailboxes, and scores of ads about you show up in social media and on t.v. show, all of which you allegedly had “no part in”, which you say that don’t know anything about it (“my campaign staff did not inform me”)….seriously……you don’t have any curiosity to find out what the deuce is going on?

    Chose from the following, folks:

    1) Ms. Balint and her campaign staff cannot make change from a $5 dollar bill, for a sale of $3.55. She and her staff are utterly clueless and incompetent.

    2) Ms. Balint’s homework was snatched away and eaten by a puppy dog while on her way to school. Ms. Balint is a person of the highest ethical principles, and is just an innocent little lamb who knew nothing about all of this and has been nastily victimized by the crypto guys donating to her campaign. She is shocked and outraged by this.

    3) # 2 above is false, however Ms. Balint thinks we are stupid and gullible enough to believe # 2. Sadly, we just might be.

    And aren’t we so proud to have elected the first whatever, and saved our democracy! Yes, indeed.

  10. Paul Dame has been Living Under a Rock for Years . Best Get after The Rino Trash who took FTX Money as well . . How Bout Them Twitter Files ?? How Bout Facebook censorship , You Tube . How Bout The Death Jab Killing People . How about Stolen Elections Paul ?

  11. Let’s also take a peek at how much money was funneled through George Soros’ Open Society Foundations. Old George and his merry band of nihilists are the #1 contributors in his quest to destroy the United States – he said it would be his greatest accomplishment – second only to turning in his neighbors to the SS during WWII.

  12. When I ran for office I was under the understanding that campaign money could only be used for campaigning expenses. Giving to a charity is just another way the Democrats Buy Votes, and is a distraction from their involvement in the fraud.

  13. The biggest problem is the way candidates get campaign war chests, money from contributions to one campaign rolled over two, four and six years later to the next campaign, even if they do stuff the original contributors never expected and don’t agree with, and meanwhile they use the money for non-official business which in most cases takes more of their time than their official business and gives them an automatic advantage over any challenger in the next election. All campaign funds should be terminated after each election, returned to the contributors determined by the percentage of their contribution. then the soliciting of contributions begins again on the date they have to register again with the Secretary of State as a candidate. But if that seems too complicated just have them sign an affidavit admitting they are corrupt, don’t really serve the people but only their self interest.

  14. Commenters are making some big assumptions about Balint and her conscience and ethics. She is a demoProg…she has no conscience or ethics. They always consider themselves to be holding the moral high ground and anything they need to do to get there is fair game in their twisted minds. We voted for this.

  15. I wonder how many VT Republicans Bilant and Welch shared the donations with? I mean, im sure Paul would have accepted them if he had the ability to sell the parties mission. Lol

  16. Most of these comments are concerned about the “money” part of this action. My concern is why we are allowing anyone to be in the office they supposedly were elected to if they received money that was laundered from that which “B” sent to Ukraine. Isn’t money laundering a crime Isn’t receiving money that was laundered a crime as well. And we are just sitting here ignoring the fact and allowing anyone to continue on as if nothing happened. No wonder our country is in the mess it’s in. Allowing people to get away with a crime long enough and they become above the law in their minds anyway and we are letting them do it. Shame on us for not standing up against this crime. All of her commercials said she approved of her message. I am sure she knew where the money came from to do all the advertising she did.