2 House Republicans Ask SEC For Details On Timing Of SBF’s Arrest

Key Points: Two senior Republican members of the US House of Representatives wanted the SEC’s assistance in determining the circumstances surrounding the arrest of SBF.
Republicans claimed they were looking at the timing of charges against the administration and requested communication between SEC officials and Department of Justice officials.
Two senior Republican House Financial Services Committee members, Patrick McHenry and Bill Huizenga sent a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler on Friday, asking him for information regarding the filing of the SBF’s claims, according to Bloomberg.Chairman Patrick McHenry and Representative Bill Huizenga, who leads the commission’s oversight and investigation subcommittee, sent a letter to SEC Chairman Gary Gensler on Friday asking him to provide records regarding the anti-complaint complaints back to Bankman-Fried.Republicans said they were looking into the administration’s charges’ timing and requested communications between SEC officials and the US Department of Justice, among other filings. A Gensler spokesperson said that he will respond directly to lawmakers.
“The timing of his arrest and the charges he faces raise serious questions about the SEC’s process and cooperation in this matter with the Department of Justice.”
The lawmakers wrote. Bahamian officials claimed that they arrested them after being informed by the Justice Department that the SBF was being accused of fraud. On December 12, Gurbir Grewal, the SEC Director of Enforcement, stated that the agency had authorized a civil suit against the SBF. John Ray, the current CEO of FTX, testified in court without the presence SBF.
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Representative Maxine Waters, a top Democrat on California’s services panel, wrote McHenry on Friday. She asked McHenry about SBF’s involvement in the collapse of FTX. Prosecutors have not brought any charges against him for fraud or the use of client funds. He was released on bail up to $250 million. The next court hearing will be held on October 2. We encourage you to do your own research before investing.Join us to keep track of news: NewsTags: # Cryptocurrencies#MarketsBlockchaincryptoDOJSBFSEC