FTX founder Sam Bankman-Fried says in draft of testimony prepared for congress and seen by Reuters:
- “deeply regrets giving in to pressure” to sign forms that led to chapter 11 filing
- Concerned FTX US Team gave misleading information to chapter 11 team
- FTX attorneys Sullivan & Cromwell, FTX US General counsel and others pressured him to file for bankruptcy
- Less than ten minutes after signing document nominating John Ray as CEO, he received potential funding offer for billions of dollars
- Instructed counsel to rescind Ray’s appointment but was told by Sullivan and Cromwell lawyers it was too late
- Numerous FTX entities were improperly placed in chapter 11 proceedings
- Current chapter 11 team has “significantly overstepped its mandate”
- FTX CEO John Ray did not respond to messages offering help, information
- Claims he attempted to manipulate price of tether are "categorically false"
- Loans he took from Alameda were mostly used to invest in the business
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SBF will appear in a Bahamas court on Tuesday:
Apparently to be charged With Wire Fraud, Wire Fraud Conspiracy, Securities Fraud, Securities Fraud Conspiracy and Money Laundering
