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Alameda Research, Bahamas, Bahamas police, Bahamas regulators, FTX collapse, FTX Digital Markets Ltd, FTX insolvency, FTX situation, FTX’s Chapter 11 filing, League of Legends, Royal Bahamas Police Force, Sam Bankman-Fried, sbf
Royal Bahamas Police Force Reveals FTX Is Being Investigated For ‘Criminal Misconduct’ – Bitcoin News
“A team of financial investigators” is currently investigating the now-defunct crypto exchange FTX, the Royal Bahamas Police Force said in a statement shared on Sunday. Police noted that the financial investigators were searching to see if “any criminal wrongdoing has occurred.”
Bahamian law enforcement looks into FTX collapse
After the Bahamas’ securities regulator took action against FTX on November 11, 2022, the country’s securities commission updated the public the next day. The regulator noted that it did not authorize FTX to authorize withdrawals for Bahamian customers.
“The Commission wishes to advise that it has not directed, authorized or proposed to FTX Digital Markets Ltd. to prioritize withdrawals for Bahamian clients,” Bahamas Securities Regulatory Authority so 12 November. The regulator added:
The [Bahamas Securities Commission] does not tolerate the preferential treatment of any investor or client of FTX Digital Markets Ltd. or otherwise.
In addition, Reuters reported on November 13 that the Royal Bahamas Police Force commented on the FTX situation and the police said an investigation was underway. “A team of financial investigators from the Financial Crimes Investigation Branch is working closely with the Bahamas Securities Commission to investigate whether any criminal activity has occurred,” the Bahamian police officer told the news agency.
The news publication reached out to FTX and executives did not “immediately respond to Reuters’ request for comment.” The news follows FTX Digital Markets Ltd. bankruptcy filing at Alameda Research and 134 other companies. One company further explained that they were “erroneously included” in FTX’s Chapter 11 filing.
Some have accused Sam Bankman-Fried (SBF) on playing the game “League of Legends, while FTX crumbles around him.” Cointelegraph reported that SBF and members of his inner circle may be under the supervision of local authorities. An aircraft radar report had shown that SBF’s private plane flew to Argentina on 12 November.
What do you think of the Royal Bahamas Police Force commenting on the FTX situation? Let us know what you think about this topic in the comments section below.
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