Two top House Republicans are prepared to subpoena senior Biden administration officials over what appears to be a cover-up of documents relating to the arrest of liberal megadonor and cryptocurrency scanner Sam Bankman-Fried.
Congressman Patrick McHenry (R-NC-10), Chairman of the House Financial Services Committee, and Congressman Bill Huizenga (R-MI-4), Chairman of the Subcommittee on Oversight and Investigations, are demanding Securities and Exchange Commission Chair Gary Gensler turn over a staff recommendation memo and other documents and information related to charges filed by the agency against FTX founder Sam Bankman-Fried.
The congressmen warn the U.S. House may resort to compulsory measures to get the documents, as the SEC has defied previous requests for the information.
“On February 10, 2023, we sent you a letter requesting documents related to charges filed by the Securities and Exchange Commission (SEC) against Sam Bankman-Fried,” McHenry and Huizenga write to Gensler.
Gensler's response to that letter has been stonewalling.
“Thank you for your April 11 letter related to your efforts to comply with our document request,” they continue. “Unfortunately, your commitment in the letter to ‘continue [the] ongoing review of Commission records and supplement the production of responsive materials and information, as appropriate' is insufficient.”
In addition to ignoring requests for information, the Biden administration has actively stopped officials from complying with Congress.
“Ignoring the deadline, the SEC actively impeded Committee staff from discussing the request with anyone in the Office of the General Counsel until Chairman Huizenga formally requested a conversation with the SEC General Counsel. The subsequent staff level conversations have yet to yield any of the requested documents,” McHenry and Huizenga write.
“On March 15, 2023, your staff provided a staff-level briefing on the SEC enforcement process. While the briefing provided interesting information related to parallel investigations. It was not responsive to anything requested in the letter. Moreover, the 232 pages of documents provided by your staff after the briefing are publicly available and not responsive to the request,” McHenry and Huizenga add.
The Biden administration still refuses to turn over information on Bankman-Fried even after Congress agreed to ask for less information.
“Your staff subsequently requested that we narrow the scope of the requested information in order to start a rolling production. Committee staff obliged and produced a narrowed list of custodians, a narrowed time frame, and a list of easily identifiable documents, such as the staff recommendation memo presented to the Commission for a vote on charges. Committee staff followed up more than a week later to check on the progress and were told that it was a ‘time consuming and extensive process,' without any indication that a production was incoming. This is unacceptable,” McHenry and Huizenga write.
Congress is now demanding the information and making clear they are willing to secure the information through court action if the Biden administration refuses to come clean.
“We expect the staff recommendation memo to be produced immediately and all other material gathered as a result of the narrowed scope to be produced no later than 5:00 p.m. on April 17, 2023. Failure to produce the requested information could result in the Committee considering using compulsory process, if necessary, to obtain the requested information.” McHenry and Huizenga conclude.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
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The answer to why is simple. SBF and FTX was nothing more than a money laundering scheme in Ukrain. The Biden administration sent pallets full of money and SBF laundered it through FTX and then forwarded it back to the communist dems in DC. Ukrain didn’t see a dime of it.
Talk is cheap action is real, not sure republicans understand action. IMO
The Biden administration and the Democrat party are simply put, lawless. They choose not to follow written laws and rulings handed down by judges. America is now a totalitarian dictatorship. What are you going to DO??
IN ON scam etc