Sam B-F - says not all loans he took from Alameda were used to invest in the business

[forex4you]

Sam B-F - says not all loans he took from Alameda were used to invest in the business

<p> FTX founder Sam Bankman-Fried says in draft of testimony prepared for congress and seen by Reuters:</p><ul><li> "deeply regrets giving in to pressure" to sign forms that led to chapter 11 filing</li><li>Concerned FTX US Team gave misleading information to chapter 11 team</li><li>FTX attorneys Sullivan & Cromwell, FTX US General counsel and others pressured him to file for bankruptcy</li><li>Less than ten minutes after signing document nominating John Ray as CEO, he received potential funding offer for billions of dollars</li><li>Instructed counsel to rescind Ray's appointment but was told by Sullivan and Cromwell lawyers it was too late</li><li>Numerous FTX entities were improperly placed in chapter 11 proceedings</li><li>Current chapter 11 team has "significantly overstepped its mandate"</li><li>FTX CEO John Ray did not respond to messages offering help, information</li><li>Claims he attempted to manipulate price of tether are "categorically false"</li><li>Loans he took from Alameda were mostly used to invest in the business</li></ul><p>----</p><p>SBF will appear in a Bahamas court on Tuesday:</p><ul><li><a href="https://www.forexlive.com/Cryptocurrency/talk-that-ftx-sam-bankman-fried-has-been-taken-into-custody-20221212/" rel="follow" target="_self" class="article-link vertical-align-baseline">FTX Sam Bankman-Fried has been taken into custody</a></li></ul><p>Apparently to be charged With Wire Fraud, Wire Fraud Conspiracy, Securities Fraud, Securities Fraud Conspiracy and Money Laundering</p>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Sam B-F - says not all loans he took from Alameda were used to invest in the business

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