{"id":1842653,"date":"2023-02-10T16:20:44","date_gmt":"2023-02-10T21:20:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1842653"},"modified":"2023-02-10T16:21:01","modified_gmt":"2023-02-10T21:21:01","slug":"lawmakers-probe-sec-over-strange-timing-of-democrat-megadonor-alleged-fraudster-sam-bankman-frieds-arrest","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawmakers-probe-sec-over-strange-timing-of-democrat-megadonor-alleged-fraudster-sam-bankman-frieds-arrest\/","title":{"rendered":"Lawmakers Probe SEC Over Strange \u2018Timing\u2019 Of Democrat Megadonor, Alleged Fraudster Sam Bankman-Fried\u2019s Arrest"},"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\">28<\/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%2Flawmakers-probe-sec-over-strange-timing-of-democrat-megadonor-alleged-fraudster-sam-bankman-frieds-arrest%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=1842653&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-->\n<p><a href=\"https:\/\/www.dailywire.com\/topic\/house-republicans\" target=\"_blank\" rel=\"noopener\">House Republicans<\/a> Requested any communications regarding the arrest of former FTX CEO <a href=\"https:\/\/dailywire.com\/topic\/sam-bankman-fried\" target=\"_blank\" rel=\"noopener\">Sam Bankman-Fried<\/a> The officials were sent to the <a href=\"https:\/\/www.dailywire.com\/topic\/securities-and-exchange-commission\" target=\"_blank\" rel=\"noopener\">Securities and Exchange Commission<\/a>.<\/p>\n<p>Bankman-Fried has been charged with several counts of fraud after he allegedly commingled assets between FTX and sister trading company Alameda Research without customers\u2019 knowledge. He was due to testify before Congress on December 12th, hours after he was arrested by the entrepreneur over misconduct at his business. Representative Patrick McHenry (R.NC) and Rep. Bill Huizenga, (R.MI), were the top Republicans on this committee. <a href=\"https:\/\/financialservices.house.gov\/uploadedfiles\/2023-02-10_mchenry_huizenga_letter_to_sec_on_sbf_charges_final.pdf\" target=\"_blank\" rel=\"noopener\">Let me know<\/a> Gary Gensler, Chair of the SEC, stated that \u201ctiming of the charges and his arrest raise serious questions about the SEC\u2019s process and cooperation with the Department of Justice.\u201d<\/p>\n<p>Authorities in the Bahamas where FTX was headquartered are pleased to assist. <a href=\"https:\/\/www.dailywire.com\/news\/breaking-democrat-megadonor-sam-bankman-fried-arrested-in-bahamas-faces-criminal-charges-in-u-s\" target=\"_blank\" rel=\"noopener\">Arrest<\/a> After they received notice that the United States had filed criminal cases against the executive, Bankman-Fried. Current FTX CEO John Ray III, an attorney overseeing the company\u2019s bankruptcy, <a href=\"https:\/\/www.dailywire.com\/news\/attorney-overseeing-ftx-bankruptcy-testifies-before-congress-grossly-inexperienced-people-ran-company-went-on-5-billion-spending-binge\" target=\"_blank\" rel=\"noopener\">Witness testimony<\/a> In his place before Congress McHenry, Huizenga requested for \u201call records and communications\u201d SEC Division of Enforcement Director Gurbir Grewal (and other staffers) \u201creferring or relating to the charges filed against Sam Bankman-Fried\u201d By February 23,<\/p>\n<p>Bankman-Fried plead <a href=\"https:\/\/www.dailywire.com\/news\/sam-bankman-fried-pleads-not-guilty-allowed-to-conceal-who-is-securing-his-250-million-bond\" target=\"_blank\" rel=\"noopener\">Not guilty<\/a> Eight charges were brought against him last month, including conspiracy to wirefraud, conspiracy to defraud securities fraud and conspiracy to finance campaign financing violations. He could be sentenced to up to 115 year imprisonment.<\/p>\n<p>The disgraced mogul\u2019s <a href=\"https:\/\/www.dailywire.com\/news\/officials-charge-sam-bankman-fried-of-using-customer-funds-for-lavish-real-estate-and-large-political-donations\" target=\"_blank\" rel=\"noopener\">ausf\u00fchrlich<\/a> political connections came to light in the weeks after his company\u2019s bankruptcy, including the $39 million he donated to Democrats ahead of the midterm elections and four <a href=\"https:\/\/www.dailywire.com\/news\/sam-bankman-fried-visited-biden-white-house-four-times-ahead-of-his-arrest\" target=\"_blank\" rel=\"noopener\">Meetings<\/a> With senior advisers Steve Richetti &#038; Bruce Reed, he was granted White House power. Bankman-Fried was also a major donor to the campaign that would ultimately grant Joe Biden control over the White House.<\/p>\n<p>Previous <a href=\"https:\/\/www.dailywire.com\/news\/sam-bankman-fried-and-allies-gave-money-to-one-in-three-congress-members-heres-what-they-did-with-it\" target=\"_blank\" rel=\"noopener\">Analysis<\/a> Coindesk released Federal Election Commission data that showed that 196 of 535 House and Senate members received donations from Bankman Fried, his associates, and last month the Senate had 196. Sunday&#8217;s announcement by FTX that they would be sending out donations was made public. \u201cconfidential messages to political figures, political action funds, and other recipients of contributions\u201d made by the company\u2019s former executives.<\/p>\n<p>House Republicans sent the letter shortly after Gensler (and other senior regulators) revealed a few enforcement initiatives <a href=\"https:\/\/www.dailywire.com\/news\/paternalistic-and-lazy-regulators-unleash-flurry-of-actions-against-crypto-companies-but-not-all-of-them-are-on-board\" target=\"_blank\" rel=\"noopener\">Taking actions<\/a> Companies that are cryptocurrency-related were targeted. The agency announced that Kraken, the cryptocurrency exchange, would pay $30 million to settle its staking\u2013as-a\u2013service initiative. This allows retail investors to be reimbursed for holding certain assets. A report also revealed that Paxos stablecoin issuer is currently under investigation by New York Department of Financial Services.<\/p>\n<p>Lawmakers have begun to look at new regulations for the nascent industry after hearing about Bankman-Fried&#8217;s charges and the untold losses incurred from FTX customers. Recently, members of the Senate Agriculture Committee <a href=\"https:\/\/www.dailywire.com\/news\/top-commodities-regulator-tells-senators-he-met-with-sam-bankman-fried-10-times\" target=\"_blank\" rel=\"noopener\">gehalten<\/a> Rostin Begnam, chairman of the Commodity Futures Trading Commission discussed increasing federal oversight of this sector.<\/p>\n<p>\u201cFor years many have recognized that a patchwork of federal and state-based regulation is an unsuitable substitute for a comprehensive approach,\u201d The official commented. \u201cWe are here today because many Americans invested in a novel product and will likely lose money because digital asset markets lack the basic protections that we have all come to expect and have made American financial markets the envy of the world.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Republicans asked for any communications about the arrest of former FTX CEO Sam Bankman-Fried sent by officials in the Securities and Exchange Commission. Bankman-Fried has been charged with several counts of fraud after he allegedly commingled assets between FTX and sister trading company Alameda Research without customers\u2019 knowledge. The entrepreneur was arrested on December &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1837357,"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":[541],"tags":[4038,5175,8222,4912,8905,3673,8300,4083,6912,8023,5655],"class_list":["post-1842653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-alleged","tag-arrest","tag-bankman-frieds","tag-democrat","tag-fraudster","tag-lawmakers","tag-megadonor","tag-probe","tag-sam","tag-strange","tag-timing"],"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\/1842653","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\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1842653"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1842653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1837357"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1842653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1842653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1842653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}