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New FTX CEO: Bahamian Government Not Transparent

WASHINGTON, DC – Ranking members of the U.S. House Committee calling the collapse of FTX one of the largest frauds in history.

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WASHINGTON, DC – Ranking members of the U.S. House Committee calling the collapse of FTX one of the largest frauds in history.

This as the company’s new CEO, John Ray III, was questioned following the arrest of former FTX CEO, Sam Bankman-Fried in The Bahamas, Wednesday. 

Wisconsin Representative Bryan Steil bringing into question the transfer of funds after the company filed for bankruptcy.

Ray confirmed it appears that Bankman-Fried was attempting to undermine the scope of the United States Federal Bankruptcy law by moving assets under the control of the Bahamian government.

To this end, he says the Chapter 15K should not be consolidated in the Delaware Bankruptcy Court.

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