Sam Bankman-Fried’s mother helped draft a strategic memo that would guide the Democratic Party’s 2020 election strategy — with clever tactics that proved wildly successful but were also illegal, according to one bomb report by a right-wing political research firm.
Barbara Fried, who ran Democratic Super PAC Mind the Gap, penned a memo in late 2019 encouraging Democrats to donate to a 501(c)(3) known as The Voter Registration Project, or Everybody Votes .
The Stanford professor argued that getting more Democrats to vote would be far more effective than simply donating to candidates, and encouraged donors to give 90% of their campaign funds to it Everyone votes.
“Impartial voter registration” charities are “four to ten times more cost effective” in “collecting additional Democratic votes,” Fried wrote in the memo.
The charity ended up raising a whopping $190 million, according to recent documents from the Capital Research Center.
Unlike PACs, which typically report donations on a quarterly basis, many charities take years to announce their donations — in part because of the The backlog of the IRS with the release of 990 forms.
According to Parker Thayer, author of the Bombshell Report, the law also strictly prohibits charities and foundations from operating with the effect, or even intent, of aiding a political party.
In fact, Fried wrote that it was important to keep the strategy a secret.
It “managed to stay out of the news and, as far as we know, out of the Republican spotlight,” Fried wrote. “It will come as no surprise to Republicans — and it will be of little interest — that another organization is attempting to fund voter registration in embattled states.
“But the scale of our efforts, the details of the alignment and the names of the organizations we recommend would be of great interest to them.”
“This is the darkest dark money,” a longtime GOP fundraiser and strategist told On The Money. “The 2020 presidential election saw an unprecedented and underreported inflow of funds from nonprofits.
The news comes just days after Federal prosecutors charged Bankman-Fried accused of using $100 million in stolen client funds for political donations. While there’s no evidence he donated money to voter registration efforts or that his mother was implicated in any wrongdoing, it does underscore the influence the entire family had on politics.
in 2020, Vox reported on Mind The Gap’s memo and the millions the group hoped to raise.
But the new Capital Research Center report shows how effective the memo was with major Democratic donors. Warren Buffett’s charitable foundation, the Susan Thompson Buffett Foundation, donated $5 million to voter registration efforts, while George Soros donated $10.4 million, the report continued.