It has been discovered that the Democratic Party of Oregon (DPO) inaccurately reported the origin of a $500,000 donation from Nishad Singh, a previous executive at cryptocurrency company FTX.
A new report reveals that although the party initially stated that Singh had made the donation himself, it later disclosed that the funds actually came from FTX, Singh’s company.
Initially, the Oregon Secretary of State’s Office suggested a fine of $35,000 for submitting a false report. However, the party was able to reach a settlement that lowered the amount to $15,000. Additionally, the party agreed to pay $10,000 in legal fees, but no criminal charges have been filed.
In a statement to Oregon Public Broadcasting, Cheryl Myers, acting secretary of state said,
“While the financial penalties are significant, the most important part of the settlement are the numerous oversight requirements the DPO has agreed to, including spot checks by Elections Division investigators, to ensure compliance with all state campaign finance laws. In too many cases, people who violate campaign finance laws pay a fine and move on…
We have closed the investigation into whether DPO reported a contribution under a false name, and we are focusing that investigation on Nishad Singh. This settlement allows the possibility of reopening an investigation into the DPO if new information comes to light.”
Under Oregon law, making a campaign contribution under a false name is a Class C felony, punishable by up to five years in prison, fines up to $125,000, or both.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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