{"id":526197,"date":"2022-12-13T10:23:51","date_gmt":"2022-12-13T07:23:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-reps-question-timing-of-ftx-founder-sam-bankman-frieds-arrest\/"},"modified":"2022-12-13T10:23:51","modified_gmt":"2022-12-13T07:23:51","slug":"us-reps-question-timing-of-ftx-founder-sam-bankman-frieds-arrest","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-reps-question-timing-of-ftx-founder-sam-bankman-frieds-arrest\/","title":{"rendered":"#US Reps question timing of FTX founder Sam Bankman-Fried&#8217;s arrest"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413cfd89906\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413cfd89906\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-reps-question-timing-of-ftx-founder-sam-bankman-frieds-arrest\/#%E2%80%9CUS_Reps_question_timing_of_FTX_founder_Sam_Bankman-Frieds_arrest%E2%80%9D\" >&#8220;US Reps question timing of FTX founder Sam Bankman-Fried&#8217;s arrest&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CUS_Reps_question_timing_of_FTX_founder_Sam_Bankman-Frieds_arrest%E2%80%9D\"><\/span>&#8220;US Reps question timing of FTX founder Sam Bankman-Fried&#8217;s arrest&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>A bipartisan duo of lawmakers Monday night questioned the wisdom of arresting disgraced crypto king Sam Bankman-Fried the day before he was set to testify before Congress about the collapse of his FTX exchange.<\/p>\n<p>The 30-year-old FTX founder was nabbed by authorities in The Bahamas Monday night after criminal charges were filed against him by\u00a0US prosecutors.<\/p>\n<p>But Bankman-Fried\u2019s sudden arrest means the shaggy-haired former billionaire will be exempt from testifying at Tuesday\u2019s House Financial Services Committee.<\/p>\n<p>Rep. Lee Zeldin (R-NY) was among those to criticize the timing of his detainment, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RepLeeZeldin\/status\/1602453543679676417\">tweeting that House Republicans<\/a> had been \u201cready to grill him six ways to Sunday\u201d on the failure of one of the world\u2019s largest cryptocurrency exchanges.<\/p>\n<p>\u201cTomorrow, Sam Bankman-Fried was scheduled to testify in front of the House Financial Services Committee \u2026 Now breaking tonight, SBF was just arrested!\u201d Zeldin wrote. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-010.jpg?w=1024\" alt=\"Many are questioning why Sam Bankman-Fried was nabbed by authorities in the Bahamas after criminal charges were filed against him by\u00a0US prosecutors.\" class=\"wp-image-24991184\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-010.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-010.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-010.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Many are questioning why Sam Bankman-Fried was nabbed by authorities in the Bahamas after criminal charges were filed against him by\u00a0US prosecutors.<\/figcaption><figcaption><span class=\"credit\">GMA<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-004-1.jpg?w=1024\" alt=\"Sam Bankman-Fried testifies during the House Financial Services Committee hearing.\" class=\"wp-image-24991185\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-004-1.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-004-1.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-004-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-004-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sam Bankman-Fried testified during the House Financial Services Committee hearing on Dec. 8, 2021.<\/figcaption><figcaption><span class=\"credit\">CQ-Roll Call, Inc via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cWhy not allow him to 1st testify tomorrow and answer our many questions?\u201d<\/p>\n<p>Rep. Maxine Waters (D-Calif.), who is chairwoman of the financial services committee, echoed those concerns, saying she was \u201cdis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed\u201d the arrest happened prior to Bankman-Fried\u2019s testimony.<\/p>\n<p>\u201cAlthough Mr. Bankman-Fried must be held accountable, the American public deserves to hear directly from Mr. Bankman-Fried about the actions that\u2019ve harmed over one million people, and wiped out the hard-earned life savings of so many,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FSCDems\/status\/1602502656924286979\">Waters said in a statement<\/a>.<\/p>\n<p>\u201cThe public has been waiting eagerly to get these answers under oath before Congress, and the timing of this arrest denies the public this opportunity.\u201d<\/p>\n<p>But lawmakers weren\u2019t the only ones quizzing the decision.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"679\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1238428843.jpg?w=1024\" alt=\"A smart phone screen displaying the logo of FTX.\" class=\"wp-image-24991196\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1238428843.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1238428843.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1238428843.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/GettyImages-1238428843.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bankman-Fried had been under investigation since FTX collapsed and filed for bankruptcy protection on Nov. 11.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Abe Hamadeh, a former prosecutor and GOP nominee for Arizona attorney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, said the decision to arrest Bankman-Fried on the eve of his testimony didn\u2019t make sense tactically. <\/p>\n<p>\u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AbrahamHamadeh\/status\/1602501692272123904\">As a former prosecutor,<\/a> this doesn\u2019t make much sense. You want him to talk\u2026,\u201d Hamadeh tweeted. <\/p>\n<p>Others appeared to suggest Bankman-Fried had allegedly been spared because of his history of donating millions of dollars to Democrat political campaigns and mostly left-leaning political causes.<\/p>\n<p>\u201cWe ALL know the real reason why mega-Democrat donor Sam Bankman-Fried was arrested today\u2026so he wouldn\u2019t have to testify in front of Republicans on the House Financial Services Committee tomorrow,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JavonAPrice\/status\/1602503783434657792\">Javon A. Price, of the America First Policy Institute<\/a>, tweeted. <\/p>\n<p>Bankman-Fried had been under investigation by the Justice Department ever since FTX imploded and filed for bankruptcy protection on Nov. 11 after traders rushed to withdraw $6 billion from the platform in just three days.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-property-bahmamas-006-1.jpg?w=1024\" alt=\"A photo of the luxury Albany Bahamas \u2014 where Bankman-Fried was staying \u2014 is shown. &#10;\" class=\"wp-image-24991204\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-property-bahmamas-006-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-property-bahmamas-006-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-property-bahmamas-006-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>A photo of the luxury Albany Bahamas \u2014 where Bankman-Fried was staying \u2014 is shown.<br \/>\n<\/figcaption><figcaption><span class=\"credit\">Albany Bahamas<\/span><\/figcaption><\/figure>\n<p>The former billionaire, who resigned as FTX\u2019s CEO the day of the bankruptcy filing,\u00a0was planning to lash out at his former lawyers \u2014 Sullivan and Cromwell \u2014 and new FTX CEO John Ray during the Congressional hearing.<\/p>\n<p>According to a draft copy of his testimony obtained by Reuters, Bankman-Fried had planned to say he was pressured by the lawyers to nominate Ray as CEO in the wake of the sudden exodus of customer funds. <\/p>\n<p>He changed his mind 10 minutes after receiving an offer of billions of dollars of fresh funding but claims he was told it was too late to remove Ray. <\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Bankman-Fried has repeatedly denied personal responsibility for the platform\u2019s collapse and distanced himself from fraud accusations, insisting he \u201cdidn\u2019t ever try to commit fraud.\u201d<\/p>\n<p>He was planning to repeat those claims in his testimony, saying: \u201cI would like to start by formally stating, under oath: I f\u2013ked up.\u201d<\/p>\n<p>Damian Williams, the US Attorney for the Southern District of New York, said the indictment against Bankman-Fried would be unsealed Tuesday.<\/p>\n<p>The charges include\u00a0wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering, the New York Times reported, citing a person with knowledge of the matter.<\/p>\n<p>Federal prosecutors\u00a0have reportedly been scrutinizing how FTX handled customer funds and the alleged transfer of hundreds of millions of dollars from the US to the Bahamas around the time of the bankruptcy filing.<\/p>\n<p>They were also said to be probing whether Bankman-Fried manipulated crypto markets by orchestrating trades that led to the collapse of the TerraUSD cryptocurrency earlier this year.<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/13\/us-reps-question-timing-of-ftx-founder-sam-bankman-frieds-arrest\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;US Reps question timing of FTX founder Sam Bankman-Fried&#8217;s arrest&#8221; A bipartisan duo of lawmakers Monday night questioned the wisdom of arresting disgraced crypto king Sam Bankman-Fried the day before he was set to testify before Congress about the collapse of his FTX exchange. The 30-year-old FTX founder was nabbed by authorities in The Bahamas&#8230;<\/p>\n","protected":false},"author":1,"featured_media":526198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-arrested-007-copy-2.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[89897,137159,75357,52214],"class_list":["post-526197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sam-bankman-fried","tag-12-13-22","tag-arrest","tag-congress"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=526197"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/526197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/526198"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=526197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=526197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=526197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}