Maxine Waters, Chair of the House Financial Services Committee, spoke about the arrest of Sam Bankman Fried (SBF), former CEO of FTX, the day before he testified before Congress.
Chairman of the Financial Services Committee Maxine Watersdue to the timing of SBF’s arrest.that you are disappointed” and “you’re surprised” told. Waters made the following statements in response to the SBF’s arrest:
The time has come to begin the process of bringing Mr. Bankman-Fried to justice. But as the public knows, my team and I have been working diligently for the past month to get Mr. Bankman-Fried to testify before our Committee tomorrow morning.
Waters stated that he had no problem with this move to hold the SBF accountable, but that the timing of the arrest was wrong. He stated that the public wanted to hear explanations from SBF and that this was the right of millions of people affected by the bankruptcy of the stock market.
The US public deserves to hear directly from Mr. Bankman-Fried about his actions that have harmed more than a million people and destroyed the hard-earned savings of many. The public has been eagerly waiting to receive these answers under oath before Congress, and the timing of this arrest deprives the public of that opportunity.
FTX hearing of the House of Representatives Financial Services Committee, will take place today as planned. But after the arrest warrant, trial will continue without SBF. At trial, the current CEO of FTX John Ray IIIwill be heard for their views on the company’s collapse.