FTX founder, Sam Bankman-Fried, was arrested in the Bahamas Monday and charged with wire fraud, securities fraud and money laundering, just one day before he was scheduled to testify before the U.S. House Financial Services Committee (HFSC). HFSC oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing and securities.
The last time Sam Bankman-Fried appeared before the committee, its, Chair Maxine Waters (D-CA), blew him kisses. Therefore, it’s no surprise to find its Vice-Chair, Congressman Jake Auchincloss (D-MA) refusing to return a $5,800 campaign donation from Bankman-Fried. Last year, the Congressman’s own mother, Dr. Laurie Glimcher, CEO of Dan Farber was a subject of a Boston Globe Spotlight Team investigation into her conflicts of interest while serving on multiple boards. https://twitter.com/bostonglobe/status/1379198916307079168?lang=en
Auchincloss campaign donations overwhelming come directly from the primary industries he oversees. (financial, insurance and real estate). Auchincloss wife Michelle Gattineri works in finance for Bain Capital. Bain contributed significantly to his campaign. Auchincloss’s previous employer was in insurance with Liberty Mutual. Over sixty Liberty executives contributed to his campaign. The Congressman’s father-in-Law Anthony Gattineri is from the real estate industry and is is also a contributor. In 2014, Anthony was federally indicted for concealing the ownership interest of a convicted felon and New England Mafia associate, Charles Lightbody, in a parcel of land, that MA gaming officials were reviewing before approving the sale of the land for 70 million dollars for the placement of the Wynn/Encore Casino. Although Gattineri was later acquitted by a jury trial, he is currently suing Wynn for 40 million.
Justice.gov: Three Men Indicted For Lying About Casino Land Allegedly Concealed Charles Lightbody’s Financial Interest From Wynn Resorts And The Massachusetts Gaming Commission
A concerned citizen
Voters can learn an awful lot about a candidate Just follow the money! www.followthemoney.org
(The opinions and views expressed in the commentaries of The Somerville/Medford News Weekly and Boston News Group belong solely to the authors of those commentaries and do not reflect the views or opinions of The Somerville/Medford News Weekly nor Boston News Group, its staff or publishers)