Incoming GOP Congressman Fears Democrats Will Downplay FTX Scandal, Calls for ‘Thorough’ Investigation

Contact Your Elected Officials
The Epoch Times Header

A newly-elected GOP representative from New York said that he worries that Democrats will try to downplay potential campaign finance and securities law violations by former FTX CEO Sam Bankman-Fried using a lame-duck session of Congress before the new Congress is sworn in.

Republican George Santos, 34, who won New York’s 3rd Congressional District flipping the seat red, joined his congressional colleagues by calling for a “thorough investigation” when the new GOP Congress takes over next year.

The spectacular collapse of FTX, a crypto-currency exchange that is headquartered in the Bahamas, which filed for bankruptcy on Nov. 11 has left around million customers and other investors facing total losses of billions of dollars. Since then, reports have emerged that Alameda Research, a crypto hedge fund established by Bankman-Fried, was trading billions of dollars from FTX accounts without clients’ knowledge.

The House Financial Services Committee said last week it plans to hold a hearing in December to investigate the FTX collapse. It said it expects to hear from companies and individuals involved, including Bankman-Fried, FTX, and Alameda Research.

Committee Chairwoman Maxine Waters (D-Calif.) said in a statement that the United States needs “legislative action to ensure that digital assets entities cannot operate in the shadows outside of robust federal oversight.”

But Santos is not convinced the Democrat-led committee will take robust action.

“Waters has signaled that she’s not going to investigate Bankman-Fried and FTX as a class. So I’m a little concerned that the Democrats right now as lame-ducks in Congress, will deflect the issue between now and the start of the new Congress,” Santos, who is attending leadership meetings for the GOP this week, told The Epoch Times.

“That’s something I’m very interested in investigating,” he added.

Santos, who worked as a financial advisor and has asked for a Financial Services Committee assignment, said that “accountability is mandatory and absolutely necessary.”

“Nobody should get away with this with impunity,” he added.

Santos made news last week when he called some planned investigations by the House GOP, such probes of the COVID-19 origins, Dr. Anthony Fauci’s handling of the pandemic, and Hunter Biden’s foreign business dealings, “hyperpartisan” issues.

By John Ransom

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Doxed Democrats Are Getting Fired Left and Left

Not a misprint because a title of “left and...

Hold Up, Feds, Without Federalism, There Is No USA

Federalism is essential to governing the U.S., yet the federal government is undermining it by bribing states to implement unnecessary federal programs.

A Widow Inspires The World

Erika Kirk moved the nation with her speech two days after her husband’s assassination, vowing to continue his mission and grow Turning Point USA.

Both Left and Right Are Making Lists

The right admired Charlie Kirk for his faith and patriotism, while the left opposed him for dismantling their positions and narratives with ease.

Redemption’s playbook: The Senior

The Senior isn’t your usual underdog tale, it’s real, it’s raw, and it flips every cliché on its head with a playbook full of grit and plenty of aftermaths.

FBI Investigating ‘A Lot More’ Than 20 People in Chats With Suspect in Charlie Kirk Assassination, Patel Says

FBI Director Kash Patel said the Charlie Kirk assassination probe has widened, with over 20 people linked to the suspect now under investigation.

California Housing Bill Squeaks Through Legislature in Tight Vote

California lawmakers approved a plan to allow more apartments near transit stops, bypassing local rules to fight high housing costs and shortages.

Trump Praises Bondi, Patel Over Response to Assassination of Charlie Kirk

President Trump lauded AG Pam Bondi and FBI Director Kash Patel for their handling of the investigation into the assassination of Charlie Kirk.

FBI’s Patel Confirms 1,700 Domestic Terrorism Cases Being Investigated

FBI Director Kash Patel confirmed the bureau is investigating more than 1,700 domestic terrorism cases, while speaking before the Senate Judiciary Committee.

Trump Signs Memo Targeting Direct-to-Consumer Pharmaceutical Advertising

President Trump signed a memo to ensure drug ads give fair, balanced, and complete information to protect and inform American consumers.

Trump Runs out of Patience With China, Sharpens His Words

President Donald Trump’s recent remarks targeting China and its allies mark a noticeable shift in tone.

Trump Signs Order Renaming Department of Defense as Department of War

President Donald Trump on Sept. 5 signed an executive order renaming the Department of Defense as the Department of War.

Trump Signs Executive Order Targeting Countries That Unlawfully Detain Americans

President Trump signed an EO on targeting the unlawful detention of American citizens around the world and to facilitate the release of hostages.
spot_img

Related Articles

Popular Categories

MAGA Business Central