US financial committee demands SBF-related documents from SEC US financial committee demands SBF-related documents from SEC
The lawmakers wrote that the timing of the SEC's charges against SBF raises "serious questions about its process and cooperation" with the US Department of Justice (DoJ).
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Updated: Aug. 1, 2023 at 4:12 pm UTC
Cointelegraph / CC BY 3.0 / Wikimedia. Remixed by CryptoSlate
The United States House Committee on Financial Service has requested documents related to charges filed against FTX founder Sam Bankman-Fried by the Securities and Exchange Commission (SEC).
The lawmakers wrote that the timing of the SEC’s charges against SBF raises “serious questions about its process and cooperation” with the US Department of Justice (DoJ).
Due to this, the lawmakers want the Commission to provide all records and communications of its employees between Nov. 2 to Feb. 9. in the enforcement division and office of the chairman relating to the SBF charges.
The Committee further asked the financial watchdog to provide similar documents of its interactions with the DoJ during the said period.
The SEC has to produce these documents before Feb. 24.
SBF was arrested on Dec. 12 in the Bahamas after US Attorney Damian Williams filed criminal charges against him.
On Dec. 13, the SEC and the Commodity Futures Trading Commission (CFTC) both filed charges against the disgraced founder.
The SEC is currently facing backlash over its recent enforcement action against the crypto exchange Kraken.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.
Gary Gensler is an American government official and former investment banker who President Joseph Biden nominated to chair the U.S.