Republicans investigate SEC role in Bankman-Fried arrest
Top House Republicans on Friday demanded answers from SEC Chair Gary Gensler about why former FTX CEO Sam Bankman-Fried was arrested on the eve of his scheduled appearance before the Financial Services Committee last year.
House Financial Services Chair Patrick McHenry (R-N.C.) and oversight subcommittee Chair Bill Huizenga (R-Mich.) said in a letter to Gensler that "the timing of the charges and his arrest raise serious questions about the SEC’s process and cooperation with the Department of Justice."
McHenry and Huizenga asked Gensler to hand over SEC records and communications with the DOJ between Nov. 2 and Feb. 9. They gave the agency until until Feb. 23 to comply.
The letter marked an escalation of the committee's SEC oversight plans, after Republicans signaled for months that Gensler would be a top target. The SEC declined a request for comment.