While looking into a widely known money laundering scheme at ActBlue called "smurfing," the EFI identified 422 identical contributions to the PAC, all of which were made on June 30, 2023. A total of 422 people made the same exact cash contribution amount to ActBlue on that day, in other words, all of that money earmarked for Maxwell Frost (D-Fla.).
After the EFI looked into the possible connections between the donations, it was revealed that many of the addresses and phone numbers used are suspicious. All of the individuals had either just moved or just changed phone numbers, which makes the contributions improper under Federal Election Commission (FEC) campaign finance rules.
(Related: Did you catch our earlier report exposing the Kamala Harris campaign for abusing ActBlue for money laundering purposes?)
Why was ActBlue's headquarters bought and sold multiple times on the same day?
First established in early 2005, ActBlue was created to be a "massive political war chest," and through suspicious means. A series of "fictitious sales" took place "off-the-books" that brought the questionable PAC into existence.
As one example, ActBlue CFO Nichole Marie Spaulding had recorded ownership interest in a single-family residence located in South Glastonbury, Conn., that just so happens to also be listed as ActBlue's "headquarters."
The sale of the home, or "headquarters," was recorded on May 18, 2015, the same day that the same home or "headquarters" was purchased multiple times: the first for $502,500.000 with a $402,000.000 mortgage from Washington Trust Company.
"One the same day, the home appears to have been sold again for $50,250,000.00, but with no recorded mortgage or deed of trust, in a private sale showing a loan amount of $40,200,000.00," writes Mark Finchem for Your News.
"This is normally considered a 'hard money loan,' consisting of cash, and is circumstantial evidence of a money laundering scheme. The mechanism is of secondary importance; it is the inflated value that suggests money laundering. Considering the possibility of a Scribner's error, research continued into dealings of other officers of record listed as ActBlue executives."
A similar odd situation surrounds ActBlue CEO Regina Jones-Wallace, who has four separate residences in the public record that show similar activity to that of Spaulding and her property.
It turns out that there are a whole bunch of properties that were bought and sold repeatedly at varying cash amounts that all link back to ActBlue. It appears as though the entire operation is a money laundering scheme that, just in time for the 2024 election, is now being unraveled.
According to Finchem, figuring out where all that laundered money came from as well as where it all went is a challenge.
"Tracing where the original money came from will be difficult; without access to a system called FinCen, which provides visibility to where the money comes from and where it goes, that will be virtually impossible without nothing short of a Congressional grant of authority," he writes. "The flow is convoluted."
"The likelihood that this operation is tied to BRICS is high because of the amount of cash involved, this is essentially bulk cash smuggling. Huge trends occurred where people were buying up houses with cash (hard money 'loans' that will never be perfected). This is the vehicle for how funds were legitimized entering the U.S. Financial System. One scenario is to have dozens, or hundreds, of people slowly pumping in money and / or commingling the funds to deposit cash under the radar. Then, transfers of real property were not regulated by FinCen until the end of September 2024."
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