Rep. Patrick McHenry, a Republican of North Carolina and rating member of the Residence Fiscal Companies Committee, speaks through a hearing in Washington, D.C.
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Major Household Republicans on Friday despatched a letter to the Securities and Trade Fee as Congress scrutinizes the agency’s actions from Sam Bankman-Fried, the former CEO of failed cryptocurrency trade FTX.
In a letter addressed to SEC chairman Gary Gensler, Reps. Patrick McHenry, R-N.C., chairman of the Home Monetary Solutions Committee, and Invoice Huizenga, chair of the oversight and investigations subcommittee, demanded data and communications among and involving the SEC’s enforcement division, the Justice Office and Gensler’s office environment on the timing of the expenses filed versus Bankman-Fried for defrauding his buyers and other violations.
Sam Bankman-Fried was scheduled to testify before the committee in December a working day in advance of he was arrested by Bahamian officials.
“Presumably, the SEC’s Division of Enforcement did a full investigation into the steps by Sam Bankman-Fried and presented the results to the Commission for its overview and to authorize the rates,” the letter states. “Nonetheless, the timing of the rates and his arrest raise serious concerns about the SEC’s approach and cooperation with the Department of Justice.”
The Fiscal Services Committee issued a deadline for the requested data by 5 p.m. on Feb. 23.
