- FTX founder Sam Bankman-Fried was questioned by Bahamian law enforcement on Saturday, per Reuters.
- The law enforcement say they are investigating if “criminal misconduct transpired” tied to the downfall of FTX.
- Bankman-Fried was rumored to have fled to Argentina before this weekend.
FTX founder Sam Bankman-Fried was interviewed by police in the Bahamas on Saturday as the investigation into the cryptocurrency company’s downfall escalates.
The Royal Bahamas Police questioned Bankman-Fried to find out if any “prison misconduct happened,” Reuters noted on Sunday.
“In light of the collapse of FTX globally and the provisional liquidation of FTX Electronic Marketplaces Ltd., a group of financial investigators from the Financial Crimes Investigation Department are functioning closely with the Bahamas Securities Fee to look into if any legal misconduct occurred,” the Royal Bahamas Law enforcement informed Reuters in a assertion.
Their evaluation follows experiences that the Securities Trade Commission and Section of Justice also opened investigations into the implosion of FTX. The collapse of the company is the newest in what analysts are calling a “crypto winter season” and has been as opposed to the demise of the Lehman Brothers in 2008, as effectively as the downfalls of Theranos and Enron.
FTX filed for Chapter 11 personal bankruptcy on Friday immediately after failing to safe unexpected emergency funding. The same day, Bankman-Fried stepped down as CEO of the organization, hemorrhaging 94% of his internet worth in the approach, and admitting he failed to adequately evaluate the firm’s financial debt.
Early Saturday early morning, FTX declared it was investigating a prospective hack tied to “abnormal” withdrawals believed to be value hundreds of hundreds of thousands. The Economic Occasions later noted that FTX held only $900 million in sellable assets against $9 billion in liabilities.
Also more than the weekend, claims emerged that the beleaguered founder fled for Argentina on his private jet, which Bankman-Fried denied in a textual content message to Reuters, stating he was currently in the Bahamas.
“Nope,” he wrote, when asked if he was in Argentina.
FTX did not promptly answer to Insider’s ask for to remark on the police investigation.
Related Post
- FTX founder Sam Bankman-Fried was questioned by Bahamian law enforcement on Saturday, per Reuters.
- The law enforcement say they are investigating if “criminal misconduct transpired” tied to the downfall of FTX.
- Bankman-Fried was rumored to have fled to Argentina before this weekend.
FTX founder Sam Bankman-Fried was interviewed by police in the Bahamas on Saturday as the investigation into the cryptocurrency company’s downfall escalates.
The Royal Bahamas Police questioned Bankman-Fried to find out if any “prison misconduct happened,” Reuters noted on Sunday.
“In light of the collapse of FTX globally and the provisional liquidation of FTX Electronic Marketplaces Ltd., a group of financial investigators from the Financial Crimes Investigation Department are functioning closely with the Bahamas Securities Fee to look into if any legal misconduct occurred,” the Royal Bahamas Law enforcement informed Reuters in a assertion.
Their evaluation follows experiences that the Securities Trade Commission and Section of Justice also opened investigations into the implosion of FTX. The collapse of the company is the newest in what analysts are calling a “crypto winter season” and has been as opposed to the demise of the Lehman Brothers in 2008, as effectively as the downfalls of Theranos and Enron.
FTX filed for Chapter 11 personal bankruptcy on Friday immediately after failing to safe unexpected emergency funding. The same day, Bankman-Fried stepped down as CEO of the organization, hemorrhaging 94% of his internet worth in the approach, and admitting he failed to adequately evaluate the firm’s financial debt.
Early Saturday early morning, FTX declared it was investigating a prospective hack tied to “abnormal” withdrawals believed to be value hundreds of hundreds of thousands. The Economic Occasions later noted that FTX held only $900 million in sellable assets against $9 billion in liabilities.
Also more than the weekend, claims emerged that the beleaguered founder fled for Argentina on his private jet, which Bankman-Fried denied in a textual content message to Reuters, stating he was currently in the Bahamas.
“Nope,” he wrote, when asked if he was in Argentina.
FTX did not promptly answer to Insider’s ask for to remark on the police investigation.
