Treasury Secretary Scott Bessent said Sunday that Nvidia’s questions about export compliance did not end with Jensen Huang’s resignation, pressing the company to explain who knew about its customers and whether shell companies were used to get chips to China.

In an interview with Larry Kudlow on Fox News’ Sunday Morning Futures, Bessent said outside counsel had been brought in and questioned what Nvidia executives knew about the companies buying its chips.

Bessent compared the situation to banking, saying regulators would intervene and remove executives if a bank had failed to comply in the same way. He did not announce the removal of other Nvidia executives.

The secretary also said Treasury, State, the War Department and the U.S. trade representative had wanted Singapore-based Nvidia customer Megaspeed placed on a U.S. export restriction list for months, but that Commerce controlled the decision. Bessent made similar criticisms Friday.

Megaspeed has said it takes export-control compliance seriously and is cooperating with U.S. authorities. What Nvidia executives knew, and whether the company knowingly used intermediaries to circumvent restrictions, remains a question, not an established finding. Reuters

Nvidia announced Huang’s resignation last week and named Colette Kress interim CEO. Commerce Secretary Howard Lutnick has agreed to testify before the Senate Banking Committee December 10, according to a U.S. official. CBS

Watch the interview clips