Is It the End of the Road For FTX Criminal Sam Bankman-Fried? World Famous Lawyers Explained!
After days of drama and numerous tweet exchanges, the former CEO of FTX, Sam Bankman-Fried, has finally announced that he is willing to testify at a hearing held by the United States Senate to investigate the failure of the cryptocurrency exchange FTX. However, his trip to the US from his current location in the Bahamas could lead to an arrest, according to several experts.
SBF Is Ready to Testify
A hearing on FTX’s bankruptcy had been scheduled for the Senate Banking Committee this week, but Bankman-Fried unsurprisingly missed the deadline to respond to the committee’s invitation to come and testify. Bankman-Fried later agreed to testify before the house committee after representative Maxine Waters of California threatened her with a subpoena.
Later, the SBF stated:
I still don’t have access to most of my professional or personal data. So there is a limit to what I can say and I won’t be able to help as much as I would like. But I am ready to testify on the 13th, as the committee still thinks it will be useful.
But according to Braden Perry, a former senior litigation attorney at the U.S. Commodity Futures Trading Commission, he doesn’t think SBF will be stepping onto U.S. soil anytime soon. He also says:
I still think he will testify remotely and not in the US. I’d be surprised if he walks through the door on Tuesday.
Perry noted that there is a possibility that Bankman-Fried will be detained by the United States if he enters the country. Perry also added that the former CEO of FTX should be worried about being jailed at any time after entering the US.
Support for Perry Has Arrived
According to a statement by Michael Zweiback, a Los Angeles-based criminal defense attorney, he also agreed with Perry’s views and said:
The fact of the matter is, the Southern District of New York can arrest him based on probable cause on a complaint, and then they can pursue a grand jury indictment.
In addition, federal prosecutors in Manhattan are also investigating whether Bankman-Fried manipulated the prices of the TerraUSD and LUNA cryptocurrencies to benefit FTX and the Alameda hedge fund.
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