SBF’s Government Ties and FTX Fallout
- December 12, 2022
Staff, GenBiz
“The public is still trying to understand the scope and audacity of FTX’s bankruptcy and Sam Bankman-Fried’s role in what may have been one of the largest frauds in history,” stated Michael Chamberlain, Director of Protect the Public’s Trust. “That is why it is so shocking to see the Treasury Department claim there is no public interest in releasing records about how SBF might have influenced or lobbied those regulators to benefit his failing venture. While we plan to appeal this ruling, the Treasury Department is well aware that charging what could be enormous fees to peek behind the curtain of insider influence with financial regulators is akin to preventing public access. Apparently, the public must not only endure the insult of drained accounts with no investigation of wrongdoing in sight, but also must be left simply to trust that financial regulators’ insider relationships with SBF were all above board.”