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Connolly, Morelle, and Raskin lead Dem probe of Trump crypto schemes [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-05-15
Leveraging their positions on the House Committees for Government and Oversight Reform, Appropriations, and Judiciary, Reps. Gerry Connolly (D-VA), Joseph Morelle (D-NY), and Jamie Raskin (D-MD) have demanded “access to suspicious activity reports (SARs) on several Trump-backed crypto projects. The formal request to Treasury Secretary Scott Bessent applies to WinRed, an online fund raising platform; Elon Musk PAC America; two scam PACs; World Liberty Financial (WLF), the Trump family crypto venture; and $Trump Coin.
Specifically, the Democrats want to “determine whether legislation is necessary to prevent violations of campaign finance, consumer protection, bribery, securities fraud, and other anti-corruption laws” and to guard against “financial misconduct connected to prospective or current federal officials.” The investigation is one of a number of Democrat-led attacks on Trump’s crypto schemes.
A SAR is a confidential document filed by a business or financial institution with the Office of the Comptroller of the Currency (OCC), the chief regulatory agency for banks. To comply with the Bank Secrecy Act of 1970, a
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