Page 5 - John Jay Ray News Today

Bahamian regulators are objecting to some assertions about communications with the company’s former chief executive, Sam Bankman-Fried.

Ray. matt egan is following this angle for us. what are we expecting ray will say this morning? >> reporter: it is a little bit of a letdown that were not going to get to see sam bankman fried get grilled by lawmakers. but in john ray, were hearing from someone who spent the last month basically digging through the rubble. trying to understand what went wrong, how ftx went from an industry leader to basically a poster child for what could go wrong. and in his prepared remarks, john ray paints th...

Trading platform customers were defrauded. and to sum up what the s.e.c. said, they said bankman fried said it was a safe crypto platform touting ftx automated risk measures to proteskt customer assets in reality he orchestrated a years long fraud to conceal from ftx investors and money that he stole from investors was used for political donations to buy luxury real estate in the bahamas and $1.3 billion in loans were taken out by bankman-fried personally. jim and erica. >> the dollar figures ar...

The disgraced co-founder of digital-asset exchange FTX was arrested in the Bahamas after the US government filed a criminal indictment, following weeks of speculation that client funds were misused before his empire’s collapse.

>> john: seems the very definition of a ponzi scheme, collect money in one area and shift it to another area and the people who gave you the money will not get paid back and neither will the ones who the money got shifted to. i mean, its crazy. >> sandra: massive, and red flags were being ignored for quite some time. >> john: but they figured it out in the end. >> sandra: kudos to them. see you >> martha: thank you. good afternoon. im martha maccallum. 30-year-old sam bankman-fried is increasing...

Damning coming from john ray because he is best known for leading another infamous company through bankruptcy and that is enron. now he stopped short of outright calling ftx a fraud but he does make a series of allegations about just what happened here. he said that customer funds werent mixed with assets of ftx hedge fund, that backs up some of the allegations that cara just talked about from the s.e.c. and from federal prosecutors. he said the hedge funds made risky bets and they went on a $5 ...

The expected testimony of cryptocurrency pariah Sam Bankman-Fried before the House Financial Services Committee on Tuesday is shaping up as a hugely awkward moment for committee Democrats whose campaigns he bankrolled.

The expected testimony of cryptocurrency pariah Sam Bankman-Fried before the House Financial Services Committee on Tuesday is shaping up as a hugely awkward moment for committee Democrats whose campaigns he bankrolled.

Sam Bankman-Fried agreed to testify before the House Financial Services Committee under threat of a subpoena after a week of dodging. 

Maxine Waters reportedly informed a private group of Democrats that she does not plan to subpoena Sam Bankman-Fried.