Update (1645ET): Senators Brown and Toomey are noit best pleased with Bankman-Fried’s refusla to attend their hearing and have just issued the following statement:

Forgive us for our ignorance here… but since when do you get to decide if you accept a subpoena… it’s punishable as contempt… just ask Steve Bannon?

– Counsel, please deliver this subpoena to your client – No thanks, do you know many bribes our client has given to your political party? – Shit, good point, you are right. We will be on our merry way then. Good day to you sir. https://t.co/AxcFyFNigu

— zerohedge (@zerohedge) December 12, 2022

And just in case the Senators needed a reminder, and thus cannot be compelled through more conventional methods. Because of the flexibility of this statute and its ability to reach American citizens no matter where they are in the world, it is a powerful tool for litigants that should not be overlooked by those embroiled in cross-border litigation.

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Having been asked so nicely by Maxine Waters (a recipient of his donations), and agreed, to virtually-attend tomorrow’s Congressional hearing about the collapse of FTX, Sam Bankman-Fried has made it clear he will not be attending Wednesday’s Senate Banking Committee hearing on the same topic.

Specifically, Bloomberg reports that the former FTX CEO said he is “currently not scheduled” to attend the Senate Banking Committee’s hearing on Dec. 14.

The founder of bankrupt exchange said on a Twitter Space on Monday that he’s “open and willing” to having a conversation with the chair about the hearing if his attendance is deemed important.

Glad @SBF_FTX will appear on 12/13, but @SenSherrodBrown & I also expect you at @SenateBanking/@BankingGOP the next day.https://t.co/azJla1ejUC

— Senator Pat Toomey (@SenToomey) December 9, 2022

Last week saw, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Sen. Pat Toomey (R-PA), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement regarding the Committee’s request that Sam Bankman-Fried testify on FTX’s collapse.

So we suspect subpoenas will be incoming very soon.