{"id":1772486,"date":"2022-12-12T12:41:22","date_gmt":"2022-12-12T17:41:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1772486"},"modified":"2022-12-12T12:48:58","modified_gmt":"2022-12-12T17:48:58","slug":"disgraced-sam-bankman-fried-to-testify-before-congress-remotely","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disgraced-sam-bankman-fried-to-testify-before-congress-remotely\/","title":{"rendered":"Disgraced Sam Bankman-Fried to Testify Before Congress Remotely"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdisgraced-sam-bankman-fried-to-testify-before-congress-remotely%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1772486&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Disgraced FTX founder Sam Bankman-Fried said Monday <a href=\"https:\/\/nypost.com\/2022\/12\/09\/ftxs-sam-bankman-fried-says-he-will-testify-to-congress\/\">he will testify remotely rather than in person<\/a> before Congress because he\u2019s \u201cquite overbooked\u201d and has security concerns about \u201cpaparazzi\u201d if he were to travel to Washington, DC.<\/p>\n<p>Lawmakers on the House Financial Services Committee are preparing to grill Bankman-Fried on Tuesday over the swift collapse of the digital currency exchange that was once worth tens of billions of dollars.<\/p>\n<p>During Monday\u2019s interview with the \u201cUnusual Whales\u201d platform that was conducted on Twitter Spaces, Bankman-Fried confirmed he will testify \u2014 but through a Zoom link from his luxury residence in the Bahamas.<\/p>\n<p>Bankman-Fried has been on a whirlwind media tour to defend his actions after FTX filed for bankruptcy on Nov. 11. But when asked why he would not fly in for the House hearing, the crypto huckster said: \u201cI\u2019m quite overbooked.\u201d <\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-13.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/Sam-Bankman-Fried-13.jpg\" alt=\"Bankman-Fried denied on Monday that he declined to appear in person out of fear of being arrested upon entering the US.\" class=\"wp-image-24981553\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-13.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-13.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-13.jpg?quality=75&#038;strip=all&#038;w=512 512w\"   style=\"display:none\"><\/a><figcaption>Bankman-Fried denied on Monday that he declined to appear in person out of fear of being arrested upon entering the US.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>When pressed on Twitter Spaces about whether his refusal to appear in person was due to a fear of being arrested, Bankman-Fried responded that he was deterred by the \u201cpaparazzi.\u201d<\/p>\n<aside class=\"single__inline-module alignright\">\n\t<\/aside>\n<p>\u201cI don\u2019t think I will be arrested,\u201d Bankman-Fried told the more than 19,000 Twitter users who tuned in to the interview. The Post has sought comment from Bankman-Fried.<\/p>\n<p>During the Twitter Spaces interview, Bankman-Fried admitted he was playing video games, which were causing the clicking sounds heard in the background. He said he will appear on his own before the House panel on Tuesday.<\/p>\n<p>FTX CEO John J. Ray III, the insolvency expert and lawyer who was installed as chief executive after the crypto exchange declared Chapter 11 bankruptcy, will also testify Tuesday. <\/p>\n<p>Bankman-Fried also said during the \u201cUnusual Whales\u201d interview that he was \u201copen and willing\u201d to possibly appearing on Wednesday before the powerful Senate Banking Committee.<\/p>\n<p>In a tweet Friday, he said he will be limited in what he can say to congressional leaders and that he\u00a0<a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1601186246990401537\" target=\"_blank\" rel=\"noreferrer noopener\">\u201cwon\u2019t be as helpful\u201d as he\u2019d like to be<\/a>.<\/p>\n<p>The tweet came in response to several tweets earlier this month from House Financial Services Committee Chair Maxine Waters (D-Calif.), who had requested that Bankman-Fried attend the hearings\u00a0<a href=\"https:\/\/nypost.com\/2022\/12\/02\/sam-bankman-fried-claims-he-misaccounted-8-billion-in-ftx-funds\/\">over the collapse of FTX<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-16.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/Sam-Bankman-Fried-16.jpg\" alt=\"Bankman-Fried has conducted several media interviews with US news outlets from his Bahamas residence. On Nov. 30, he logged in remotely to the New York Times DealBook Summit.\" class=\"wp-image-24981552\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-16.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-16.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Sam-Bankman-Fried-16.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>Bankman-Fried has conducted several media interviews with US news outlets from his Bahamas residence. On Nov. 30, he logged in remotely to the New York Times DealBook Summit.<\/figcaption><figcaption><span class=\"credit\">Getty Images for The New York Ti<\/span><\/figcaption><\/figure>\n<p>Waters said in a\u00a0series of tweets to Bankman-Fried\u00a0that based on multiple media interviews since FTX collapsed, it was \u201cclear to us that the information you have thus far is sufficient for testimony.\u201d<\/p>\n<div class=\"single__inline-module inline-module inline-module--newsletter alignleft\">\n<div class=\"inline-module__inner\">\n<h3 class=\"inline-module__title headline headline--combo-sm-md\">\n\t\t\tStart your day with all you need to know\t\t<\/h3>\n<p class=\"inline-module__cta\">\n\t\t\tMorning Report delivers the latest news, videos, photos and more.\t\t<\/p>\n<\/p><\/div>\n<\/div>\n<p>Unlike Bankman-Fried\u2019s interviews with reporters, his testimony to Congress will put him at risk of perjury.<\/p>\n<p>Federal prosecutors are reportedly assembling a potential fraud indictment against the disgraced crypto mogul \u2014 and speculation is growing that his ex-girlfriend Caroline Ellison <a href=\"https:\/\/nypost.com\/2022\/12\/12\/caroline-ellison-hires-lawyer-as-feds-probe-sam-bankman-fried\/\">could become a stool pigeon<\/a> in the case. Ellison was in charge of FTX\u2019s sister cryptocurrency trading firm Alameda Research.<\/p>\n<p>Justice Department officials in the Southern District of New York are reportedly scrutinizing the alleged transfer of hundreds of millions of dollars from the US to the Bahamas right around the time that his FTX cryptocurrency exchange filed for Chapter 11 bankruptcy protection,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-10\/us-probes-ftx-founder-for-fraud-examines-cash-flows-to-bahamas?utm_content=business&#038;cmpid=socialflow-twitter-business&#038;utm_campaign=socialflow-organic&#038;utm_medium=social&#038;utm_source=twitter&#038;sref=MTy2GeXk\" target=\"_blank\" rel=\"noreferrer noopener\">according to Bloomberg News.<\/a><\/p>\n<p>Federal prosecutors in Manhattan also are probing whether Bankman-Fried manipulated crypto markets by orchestrating trades that led to the collapse of the TerraUSD cryptocurrency earlier this year,\u00a0<a href=\"https:\/\/nypost.com\/2022\/12\/08\/ftxs-sam-bankman-fried-faces-market-manipulation-probe-over-luna-cryptocurrency-crash\/\">according to previous reports<\/a>.<\/p>\n<p>Bankman-Fried has denied personal responsibility for FTX\u2019s collapse and said he \u201cdidn\u2019t ever try to commit fraud.\u201d He also claimed he had \u201cunknowingly commingled funds\u201d between FTX and Alameda Research.<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/caroline-ellison-ftx-ceo-alameda-research-08-2.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"820\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/caroline-ellison-ftx-ceo-alameda-research-08-2.jpg\" alt=\"Bankman-Fried&#039;s former girlfriend, ex-Alameda Research CEO Caroline Ellison, has reportedly hired an attorney.\" class=\"wp-image-24750874\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/caroline-ellison-ftx-ceo-alameda-research-08-2.jpg?quality=75&#038;strip=all&#038;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/caroline-ellison-ftx-ceo-alameda-research-08-2.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/caroline-ellison-ftx-ceo-alameda-research-08-2.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>Bankman-Fried\u2019s former girlfriend, ex-Alameda Research CEO Caroline Ellison, has reportedly hired an attorney.<\/figcaption><figcaption><span class=\"credit\">Twitter \/ @carolinecapital<\/span><\/figcaption><\/figure>\n<p>Meanwhile, Ellison\u00a0<a href=\"https:\/\/twitter.com\/AutismCapital\/status\/1599466158893432832?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1599466158893432832%7Ctwgr%5E492234177a549f2f15bb49e800d7fb64d04bbfa7%7Ctwcon%5Es1_&#038;ref_url=https%3A%2F%2Fnymag.com%2Fintelligencer%2F2022%2F12%2Fcould-caroline-ellison-be-cutting-a-deal-with-the-feds.html\" target=\"_blank\" rel=\"noreferrer noopener\">reportedly was spotted grabbing coffee<\/a> at a Soho eatery in Manhattan\u00a0last week \u2014 and has hired Stephanie Avakian, a partner at white-shoe law firm Wilmer Hale who is the former enforcement division chief at the Securities and Exchange Commission,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-10\/caroline-ellison-hires-sec-s-former-top-crypto-cop-for-ftx-probe?sref=MTy2GeXk\" target=\"_blank\" rel=\"noreferrer noopener\">Bloomberg reported separately.<\/a><\/p>\n<p>The Post has sought comment from Wilmer Hale.<\/p>\n<p>While Bankman-Fried has granted several interviews and frequently posted to social media in recent weeks, Ellison has stayed silent \u2014 leading some observers to believe she is seeking to cooperate with authorities.<\/p>\n<p><em>With Post wires<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Disgraced FTX founder Sam Bankman-Fried said Monday he will testify remotely rather than in person before Congress because he\u2019s \u201cquite overbooked\u201d and has security concerns about \u201cpaparazzi\u201d if<\/p>\n","protected":false},"author":1,"featured_media":1772489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[7176,5458,4402,3689,8158,3819,6912,5308],"class_list":["post-1772486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bankman-fried","tag-bongino","tag-congress","tag-disgraced","tag-remotely","tag-report","tag-sam","tag-testify"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1772486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1772486"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1772486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1772489"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1772486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1772486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1772486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}