In late February, Nishad Singh, the former Director of Engineering at FTX, pleaded guilty to several criminal charges in a New York court. The Securities and Exchange Commission has also filed charges against the disgraced fintech millionaire.
Singh, who previously worked closely with FTX founder Sam Bankman-Fried, had been seeking a plea deal with prosecutors, and on Tuesday, February 28th 2023, he entered a guilty plea for charges that included fraud and conspiracy.
Singh Gave 4 Million to the Michigan Abortion Amendment
Shortly before the 2022 midterm elections, The American ProLifer published an analysis of the top donors to the Michigan Reproductive Freedom (aka abortion-on-demand amendment) and noted the mysterious presence of Mr. Singh, a man with no links to Michigan or even to the abortion rights movements in the United States.
According to state campaign finance records, it was revealed that Singh made a substantial donation of $4 million to the Reproductive Freedom For All (RFFA) ballot committee last year. The committee, consisting of organizations such as the American Civil Liberties Union of Michigan, Planned Parenthood of Michigan, and Michigan Voices, spearheaded the efforts to pass Proposal 3 in Michigan. The proposal cemented the “right” to kill children up to the moment of birth, within the state’s constitution.
Attempts by the Detroit Free Press to seek clarification from the RFFA coalition, including the ACLU of Michigan, Planned Parenthood of Michigan, and Michigan Voices, regarding Singh’s donation went unanswered.
During the election cycle, the RFFA managed to raise over $45 million. However, an amended post-general campaign finance statement filed on February 22 indicated that the committee still had approximately $965,000 remaining in its account. In its latest Quarterly report, the RFFA committee notes that only a little over $100,000 remain in their accounts.
Singh Maxed-Out Individual Donations to Gov. Whitmer and Other Democrats
Singh’s involvement in political contributions extended beyond the abortion ballot amendment. According to official records, Singh made a maximum individual contribution of $7,150 to Michigan Governor Gretchen Whitmer’s reelection campaign.
Upon being made aware of this contribution, the Whitmer campaign reached out to federal officials.
Mark Fisk, a spokesperson for Whitmer’s campaign, stated that the donation was unsolicited and, as a result, it has been removed from the campaign’s funds and held in escrow until further notice.
Unlike the donation to the Governor’s campaign, the much larger donation to the pro-abortion ballot committee was not escrowed, segregated or returned.
The flow of money from Mr. Singh, a fintech engineer, to Governor Whitmer’s top political project, Michigan’s “Reproductive Freedom Amendment” is highly suspicious.
Why would a financial tech executive with no track record of involvement in abortion advocacy and who is living in the Bahamas care about abortion in Michigan?
The answer may lie closer to Sam Bankman-Fried’s home of Stanford, where both of his parents are law professors, and where his mother has carved a niche for herself as a highly influential Democrat political bundler for the super rich of Silicon Valley.
At the same time, California’s own Governor Newsom has been publicly leading a campaign to fund and otherwise promote state constitutional amendments to enshrine abortion as a state constitutional right throughout the country.
What better way could there be for tech entrepreneurs to curry favor with the Democrat party hierarchy than by funding their pet ideological projects around the country?
The indirect buying of political influencing through large donations to abortion campaigns was not even isolated to Michigan during the 2022 midterm elections.
In California itself, an obscure Indian casino seeking to gain the political favor of the state Democratic party made the single largest donation of the campaign to California’s own Reproductive Freedom Amendment.
American ProLifer covered the casino story, but the mainstream media completely ignored it.
That two massive donations were made to separate abortion ballot measures from seemingly uninterested parties should have raised red flags from inquisitive reporters and regulators looking for corruption in the financing of campaigns.
The inevitable conclusion is that the ballot measures were being used to bypass campaign finance rules.
That is because while strict limits are placed on individual candidate contributions, such as the one made directly by Mr. Singh to the campaign of Governor Whitmer, Singh and others are able to exploit a loophole in campaign finance law by donating an unlimited amount to politician’s top political priority directly, and in the case of Democrats like the highly influential Governors of California and Michigan, nothing is more important than the dehumanization of children in the womb through the passage of the “Reproductive Freedom” ballot initiatives.
Singh’s political contributions also encompassed federal candidates running for U.S. House and Senate positions from districts in Michigan. Federal Elections Commission records reveal that Singh made significant individual donations to several candidates during the 2021-2022 campaign cycle. Recipients of Singh’s contributions included Democrat US Senators Debbie Stabenow and Gary Peters, and Democrat Representatives Elissa Slotkin, Dan Kildee, and Debbie Dingell. Singh also supported at least one Republican, a software engineer named John Gibbs, who lost his race for U.S. Congress.
Dark Money Groups Also Played a Major Role
While Singh donated 4 Million directly to the abortion ballot initiative, it is possible that FTX executives could have donated even more and remained under the radar by using dark money pass-through organizations like the Sixteen Thirty Fund or Mind the Gap, a Democrat fundraising PAC until recently run by Sam Bankman Fried’s own mother.
The fact that the donations to the abortion initiative campaign in Michigan were made transparently shows that FTX had a desire to be known and gather public support and status for FTX among Democrat politicians. Ironically, the public donations, far from legitimizing the decidedly fraudulent FTX, have provided a window into the world of dark money and influence-shopping by wealthy private tech interests seeking to neutralize campaign finance law.
Singh, Bankman-Fried, and FTX Go Down, but What About the Corrupt Politicians Who Took Stolen Money?
Sam Bankman-Fried, the founder of FTX, has now been charged with multiple counts, ranging from bank fraud to securities and commodities fraud, as well as conspiracy to commit money laundering. Bankman-Fried has maintained his innocence and is set to face trial later this year.
However, Sam Bankman Fried’s mother, not only remains free to continue influencing campaigns, but has actually been instrumental in providing the bail to ensure that one of history’s largest financial fraudsters is not behind bars while he awaits trial.
Nishad Singh’s guilty plea follows the prior admissions of guilt by two other former executives associated with FTX. Caroline Ellison, who formerly headed prop trading shop Alameda Research, and Gary Wang, a co-founder of FTX, who have already pleaded guilty to fraud charges linked to the collapse of FTX.
In a statement released by Singh’s lawyers, it was expressed that he deeply regrets his involvement in the matter and takes full responsibility for his actions. The statement explains that he intends to make amends to the victims and is committed to assisting the government in every possible way during the case.
One must wonder, though, if in Mr. Singh’s mind, the victims include the untold number of preborn babies that will die through abortion in part thanks to his massive donation to the Michigan abortion amendment campaign?
Prosecutors have made various allegations against FTX, including the use of Alameda’s bank accounts to accept customer deposits, knowing that traditional banks would be reluctant to provide services to a crypto exchange. Additionally, the indictment against Bankman-Fried claims that he and his colleagues used encrypted and ephemeral messaging platforms to communicate, thereby preventing regulatory authorities and law enforcement from obtaining a record of these communications. Prosecutors have also alleged misappropriation of FTX customers’ funds for different purposes.
The collapse of FTX in November was triggered by an investigative report from the magazine, CoinDesk, which revealed an unusually large amount of FTT tokens held by Alameda, causing a cascade of events that led to FTX filing for bankruptcy protection, along with nearly 100 subsidiaries and related companies. The bankruptcy cases are still ongoing. In other words, it appears that FTX had run a ponzi scheme taking real digital assets from clients and unbeknownst to them using them as collateral for super high risk investments.
As these legal proceedings unfold, the revelations about the tech billionaires’ involvement in funding the pet causes of leftwing Democrats, like the Michigan abortion referendums, raise further questions about the interconnectedness of individuals in various industries with high ranking government officials in different states.
While it appears that the fraud perpetrated against the creditors of Alameda and FTX will be vigorously prosecuted, the evident corruption in Democrat dark money circles, which allowed the funding of the Michigan pro-abortion ballot initiative using stolen FTX funds appears to raise little to no interest with either the national media, law enforcement, or regulators.
FTX was brought down in one fell swoop by the extraordinary reporting from Coindesk, will any mainstream media outlet dare to expose the dark web of political influence-peddling among Silicon Valley’s super rich and super influential tech millionaires?