San Francisco hedge fund manager Chris Hansen has been ordered to pay $50,000 to the state of California for concealing donations made to the STOP campaign.
CBS reported that Hansen, who made headlines recently for the failed campaign of attempting to move the Sacramento Kings to Seattle, is settling with the Fair Political Practices Commission for hiding $100,000 in contributions to the local anti-arena group. California law mandates that campaign donations be made public.
The article also said that Hansen helped fund the anti-arena group after his proposal to move the NBA team to Seattle was denied in an effort to stall the construction of the arena in California.
Hansen, the founder of Valiant Capital Management, had been in discussions since 2011 with Seattle’s Mayor Mike McGinn and other area politicians about bringing back a NBA franchise to the town