Craig Barritt
FTX (FTT-USD) founder Sam Bankman-Fried is in the crosshairs of a fraud case from U.S. prosecutors about the handling of funds, Bloomberg reported Friday.
Prosecutors are examining if hundreds of millions of dollars may have been transferred to the Bahamas just as FTX was filing bankruptcy in November, Bloomberg reported, citing a person familiar with the matter.
Bankman-Fried said earlier Friday he’s “willing to testify” on December 13 in front of the House Financial Services Committee.
“I still do not have access to much of my data — professional or personal. So there is a limit to what I will be able to say, and I won’t be as helpful as I’d like,” Bankman-Fried wrote in a Twitter post in response to requests from House Financial Services Committee Chairwoman Maxine Waters (D-CA).
Bankman-Fried has not been charged with any crimes and a spokesman for him declined to comment to Bloomberg on the latest report of an investigation into fraud.
On Thursday, the New York Times reported that Bankman-Fried was said to be hit with an investigation by federal prosecutors on whether he manipulated the prices of terraUSD (UST-USD) and its sister token luna (LUNC-USD) this May that led to their implosion and ultimately caused the downfall of his crypto empire.
Image and article originally from seekingalpha.com. Read the original article here.