Is FTX Founder Trying To Escape Arrest With Virtual Testimony? – Crypto News – Crypto News
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Is FTX Founder Trying To Escape Arrest With Virtual Testimony? – Crypto News

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Sam Bankman-Fried, the founder and former CEO of ftxis scheduled to testify in front of a House committee in the United States on Tuesday, as regulators investigate his role in the aftermath of the crypto exchanges failure. However, SBF clarified on a Twitter space discussion that he would be testifying through a video call and not in person. This has led many to doubt whether the SBF fears a possible jail arrest if it steps into the US soil.

SBF To Testify On Video

The House Committee panel announced in a statement that it would hear from the newly appointed FTX CEO John J. Ray III as well as from Bankman-Fried on Tuesday. The statement was released late on Friday.

Read More: Chairwoman Maxine Waters Says SBF’s Subpoena “Definitely On The Table”

When asked about his testimony to the Congress on Friday, in a Twitter space of over 19K participants, SBF confirmed his presence over a video call. However, when another participant asked about his failure to appear in person, for the Congressional hearing—SBF cited reasons of security, paparazzi and time-saving.

Can SBF Be Jailed?

However, a few former US officials and top lawyers think it’s for a different reason. According to Braden Perrya former senior trial attorney for the US Commodity Futures Trading Commission, believes SBF’s video call attempt is a sly way of avoiding being taken into custody by US authorities.

Read More: Alameda’s Ex-CEO & SBF’s Close Aide Caroline Hires Former SEC Official

Michael Zweiback, a prominent Los Angeles-based criminal defense attorney, seconded Braden’s views and said that:

The fact of the matter is that the Southern District of [New York] could arrest him based on probable cause based upon a complaint, and then they could pursue a grand jury indictment.

“SBF is of course and should be concerned about being taken into custody at any time.” said Mark Kornfeld, from the Pennsylvania-based law firm Buchanan Ingersoll Rooney.

SBF Responds To Jail Fears

Responding to a question from the audience on whether he feared jail time while flying over to the US from his residence in the Bahamas, SBF abruptly replied, “I don’t think I will be arrested.”

Sam Bankman-Fried has also been requested to attend the Senate hearing which might happen later this month. However, when asked about his views on it, SBF seemed casual in his tone and stuttered to reply:

I… I.. (five times) not currently scheduled to do that, but I am open and willing to have a conversation if it’s believed to be important.

SBF also confirmed to play video games while being on the 2-hour long Twitter space call.

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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