cryptonews: A pair of powerful members of the U.S. House of Representatives are demanding to know if the Securities and Exchange Commission was involved in the timing of Sam Bankman-Fried's arrest. 🧐
A pair of powerful members of the U.S. House of Representatives are demanding to know if the Securities and Exchange Commission was involved in the timing of Sam Bankman-Fried's arrest.
In a letter to the SEC, politicians demanded internal communications as well as any communications between the agency and the Department of Justice related to the arrest. The Dec. 12 arrest of Bankman-Fried by authorities in The Bahamas prevented the former FTX CEO from testifying before the House Financial Services Committee on Dec. 13 as scheduled, angering members of both parties. It happened as soon as the DoJ revealed the indictment.
The testimony would have meant Bankman-Fried giving an explanation about the collapse of FTX under oath, and allowing members of Congress the opportunity to grill him for hours. Post-bankruptcy CEO John Ray III testified alone, as scheduled. Bankman-Fried has been charged with eight counts including fraud over allegations he diverted $10 billion from exchange customers' accounts to shore up his private trading firm, Alameda Research.The demand for documents goes beyond one issue, however. It launches what the House GOP has promised will be
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