California Congresswoman Maxine Waters is in charge of regulating the financial system.
One mistake from her past is coming back to haunt her.
Now this shocking picture of Maxine Waters just created a massive scandal.
The collapse of the cryptocurrency exchange FTX is shaping up to be the biggest financial fraud since Enron.
FTX founder and CEO Sam Bankman-Fried secretly transferred $10 billion in customer deposits to prop his hedge fund, Alameda Research.
Between $1 and $2 billion worth of FTX customer’s money went missing during the transfer to Alameda Research.
FTX’s house of cards collapsed after the company declared bankruptcy, leaving customers holding the bag for Bankman-Fried’s fraud.
The stunning collapse of FTX became the biggest failure in cryptocurrency history and put Democrats in an uncomfortable situation.
Outside of left-wing billionaire George Soros, Sam Bankman-Fried was the largest donor to Democrat campaigns and causes during the 2022 election cycle.
In anticipation of another Presidential run by former President Donald Trump, Bankman-Fried claimed he could spend up to $1 billion boosting Democrats in 2024.
Now, Bankman-Fried is broke after having his reported net worth of $16 billion wiped out overnight, and is drawing comparisons to disgraced Ponzi scheme mastermind Bernie Madoff.
With FTX’s massive fraud in the news, Congress is once again looking to increase regulations on cryptocurrency.
Rep. Maxine Waters (D-CA) is the Chair of the House Financial Services Committee, which is tasked with helping regulate the financial system.
The Congresswoman announced that the Financial Services Committee was launching an investigation into FTX to “explore exactly what has taken place.”
Rep. Waters is alleged to be one of the most corrupt members of Congress, and even left-wing groups have called her out.
The George Soros-funded left-wing watchdog Citizens for Responsibility and Ethics in Washington has named Waters the “most corrupt” member of Congress three times.
During the Great Recession, she was charged with three counts of Congressional ethics violations for securing a $12 million bailout for a small bank her husband owned stock in.
Now, in the final days of Speaker of the House Nancy Pelosi (D-CA) and Democrats’ reign over the U.S. House, Rep. Waters is leading the investigation of the FTX scandal.
Waters awkwardly dodged a question about Bank-Friedman’s massive donations to Democrats when asked if members of her Party should return them.
“Well, I don’t want to get into that,” Waters told a Fox Business reported. “As a matter of fact, both sides, Democrats and Republicans, have received donations. So thank you.”
She doesn’t want to “get into that” because a deep dive into Bankman-Fried’s donations could be a major problem for Democrats.
Now, Congresswoman Waters’ ties to Bankman-Fried are giving Democrats heartburn ahead of the potential hearings.
Last year Maxine Waters was seen blowing a kiss and waving to Sam Bankman-Fried a Congressional hearing he was testifying at was wrapping up.
A picture also emerged of Bankman-Fried and Rep. Waters smiling with their arms around each other after another Congressional hearing.
A real investigation of FTX will have to wait until Republicans take control of the House in January, and Maxine Waters is sidelined.
Stay tuned to Conservative Underground News for any updates to this ongoing story.