Craig Barritt
Bloomberg reported Friday that FTX founder Sam Bankman Fried is being investigated by U.S. prosecutors for fraud in relation to the handling funds.
Prosecutors are investigating whether hundreds of millions of dollars could have been transferred Bloomberg reported that FTX had filed for bankruptcy in November. Bloomberg cited a person who was familiar with the matter.
Bankman-Fried stated Friday that he was “willing” to testify before the House Financial Services Committee on December 13.
“I still do have no access to large amounts of my personal and professional data. Bankman-Fried stated that there is a limit on what I can say and that I won’t always be as helpful as my colleagues. This was in response to Maxine Waters, Chairwoman of the House Financial Services Committee (D-CA).
Bankman-Fried was not charged with any crime and a spokesperson for him declined to speak to Bloomberg about the latest fraud investigation.
According to the New York Times, Bankman-Fried will be under investigation by federal prosecutors for manipulating the prices of terraUSD (UST) and its sister token luna(LUNC-USD). This manipulation led to the implosion of his crypto empire.