Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
DMFINANCE
Dec 09, 2022 4:32AM ET
First dine and then whine for show off
0
0
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
💎 Access the Market Tools Trusted by Thousands of Investors Get Started
U.S. House panel chair says she'll subpoena FTX's Bankman-Fried if needed
Published Dec 08, 2022 01:58PM ET
Updated Dec 08, 2022 09:47PM ET
© Reuters. FILE PHOTO: Representative and chairwoman Maxine Waters (D-CA) attends the House Financial Services Committee hearing on Capitol Hill in Washington, U.S., September 30, 2021. Al Drago/Pool via REUTERS/File Photo
By David Morgan
(Reuters) -House Financial Services Committee Chairwoman Maxine Waters (NYSE:WAT) told Reuters on Thursday that she is prepared to subpoena FTX founder Sam Bankman-Fried if he does not agree to appear before the panel next week and she is working out the best way to do it.
"We've made it clear that we want Sam at our hearing on Dec. 13. If he does not cooperate, then we are prepared to subpoena," Waters said in an interview in the U.S. Capitol.
Regulators around the globe, including in the Bahamas, where FTX is based, and in the United States, are investigating the role of FTX's top executives including Bankman-Fried in the firm's stunning collapse, Reuters has previously reported. The crypto exchange filed for bankruptcy last month after a liquidity crisis that saw at least $1 billion of customer funds vanish.
Prosecutors and regulators have not charged Bankman-Fried with any crime.
Bankman-Fried missed a Thursday evening deadline to respond to a Senate Banking Committee request to testify at a hearing, raising the possibility of a subpoena, Axios reported.
Waters said she has the authority to issue a subpoena herself but could put it to a committee vote, adding she would first work out the procedure with Representative Patrick McHenry, the Republican lawmaker who will chair the panel when his party assumes control of the House in January.
She said no decision has been made so far. "I could really do it myself. We'd probably do a vote," she said. "I have to work it out with Mr. McHenry how we do it. But we will issue a subpoena."
"Either he participates or not. And that's when we make our decision," Waters said. "It's only proper and right, and makes good sense, to say we want you here."
She declined to say whether Bankman-Fried would be required to appear in person or could testify by video link.
A spokesperson for Bankman-Fried declined to comment. McHenry's office was not immediately available for comment.
Related Articles
Comments (2)
Stephen Fa
Dec 08, 2022 3:14PM ET
Virtue signalling by an incompetent House committee chair who's time is coming to an end as chair.
2
0
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.