New X CFO receives presidential pardon from Trump

Dive Summary:

• Former Tubi executive Mahmoud Reza Banki has been appointed as CFO of Elon Musk’s social media platform X. company in role Earlier this month, according to his LinkedIn profile and media reports.
• Top financial seat on social media site appears vacant since Musk’s departure Swiftly fired former CFO Ned SegalHe, along with CEO Parag Agrawal and other top company executives, took control of the company, then called Twitter, two years ago, CFO Dive previously reported.
• Banki, an Iranian-American citizen, was one of 73 prominent figures and executives who received a presidential pardon from President-elect Donald Trump in the final days of the previous term. administrative amnesty permit.

Diving Information:

Banki received a presidential pardon in January 2021 in connection with accusations that he made false statements regarding government subpoenas from the Bureau of Foreign Assets Control in 2010, according to a White House statement at the time.

The CFO was also charged and convicted of violating the Iran Transactions Regulation, violating the ITR, and conspiring to operate an unlicensed money transmission business, among other charges. 3.4 million dollars to the USA from Iran, according to the case summary published in the Thomson Reuters case text.

While the sanctions-related charges were overturned on appeal, the White House said at the time that “serious allegations of making false statements prevented Dr. Banki from pursuing a full life.” “In the years since his conviction, Dr. Banki has devoted himself to his community and maintained a sincere love and respect for the United States.”

Banki holds a doctorate in chemical engineering from Princeton University and previously served as CFO and chief strategy officer at video streaming service Tubi, logging a six-year tenure in the role, according to his LinkedIn profile. He has also worked as an independent consultant and partial CFO for more than a decade and is a founding member of the CFO peer group F Suite. He started his career at the consulting firm McKinsey & Company.

Banki’s appointment comes as Musk, a strong supporter of President-elect Donald Trump, begins preparations He will take on the role of “productivity czar” For the next administration. In this position, Musk will lead the newly created Department of Government Efficiency and work to “eliminate Government Bureaucracy, cut excessive regulations, cut wasteful spending, and restructure Federal Agencies,” Trump said in a statement.

X did not immediately respond to requests for comment.