Ex-FTX US President Blames Bankman-Fried of Manipulating and Threatening Colleagues

Harrison claimed that Bankman-Fried had warned him that he could be dismissed instantly and his professional standing would be ruined if he carried on arguing with the ex-CEO of FTX.

Brett Harrison, the former President of FTX US, expressed his extreme displeasure towards Sam Bankman-Fried for allegedly manipulating and intimidating co-workers who gave suggestions to rearrange the managerial layout of FTX US.

Harrison detailed his hiring process with Bankman-Fried and FTX US on Dec. 14, noting that it was done 'casually over text' in March 2021, following a few years of collaborating at the trading enterprise, Jane Street, situated in New York.

After half a year into Harrison's period of service at FTX US, he stated that tensions started to arise between the two. Though Harrison initially remembered Bankman-Fried as caring and inquisitive, he noticed a dramatic change when issues of disagreement arose, in particular when he proposed that FTX US create separate divisions for its managerial, engineering, and legal departments. Bankman-Fried seemed completely insecure and unyielding.

Harrison asserted that he was uncertain what was the cause of Bankman-Fried's dramatic shift in behavior, however he thought mental health problems may have been a possible factor. Harrison recounts acts of irrationality in which Bankman-Fried attempted to control the situation by utilizing tactics such as gaslighting and manipulating those around them to help resolve the corporate issues of FTX US.

Harrison remembered his last effort to address FTX US'; organizational issues with Bankman-Fried, saying that if he didn't receive a formal apology, Bankman-Fried threatened to ruin his professional standing.

Harrison stated that the event firmly confirmed his decision to resign. Harrison commented on the fraud allegations directed at Bankman-Fried and his colleagues at FTX, expressing his astonishment that this kind of behavior was taking place, as he had seen similar issues at other, more established organizations and thought that they wouldn't be detrimental to the success of the business. He remarked, 'I had no idea that under the surface was a massive fraud of billions of dollars'. He went on to state that had any one of them been aware of the truth, they would have notified the authorities right away.

Bankman-Fried was given release from custody after posting a security of $250 million and asserting innocence on the eight criminal counts levied against him on Jan. 3. On September 27th, Harrison resigned his position as President of FTX US and changed to an advisory position, approximately five weeks before FTX's eventual downfall.