Royal Bahamas Police Pressure Reveals FTX Is Being Investigated for ‘Felony Misconduct’ – Bitcoin Information

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“A workforce of economic investigators” are at the moment investigating the now-defunct crypto change FTX, the Royal Bahamas Police Pressure stated in a press release shared on Sunday. The police famous that the monetary investigators had been looking to see if “any prison misconduct occurred.”

Bahamas Legislation Enforcement Appears Into FTX Collapse

After the Bahamas securities regulator took motion in opposition to FTX on Nov. 11, 2022, the nation’s Securities Fee up to date the general public the next day. The regulating entity famous that it didn’t give permission to FTX to authorize withdrawals for Bahamian prospects.

“The Fee needs to advise that it has not directed, approved or recommended to FTX Digital Markets Ltd. the prioritization of withdrawals for Bahamian shoppers,” the Bahamas securities regulator stated on Nov. 12. The regulator added:

The [Bahamas Securities Commission] doesn’t condone the preferential remedy of any investor or consumer of FTX Digital Markets Ltd. or in any other case.

Moreover, on Nov. 13, Reuters reported that the Royal Bahamas Police Pressure commented on the FTX state of affairs and the police stated an investigation was underway. “A workforce of economic investigators from the Monetary Crimes Investigation Department are working intently with the Bahamas Securities Fee to research if any prison misconduct occurred,” the Bahamian police officer informed the information outlet.

The information publication reached out to FTX and executives didn’t “instantly reply to Reuters’ request for a remark.” The information follows FTX Digital Markets Ltd. submitting for chapter with Alameda Analysis and 134 different corporations. One firm additional defined that they had been “erroneously included” in FTX’s Chapter 11 submitting.

Some have accused Sam Bankman-Fried (SBF) of taking part in the sport “League of Legends, whereas FTX crumbles round him.” Cointelegraph reported that SBF and members of his internal circle could also be below supervision by the native authorities. A flight radar report had proven SBF’s personal jet flew to Argentina on Nov. 12.

Tags on this story
Alameda Analysis, bahamas, Bahamas police, Bahamas regulators, FTX collapse, FTX Digital Markets Ltd, FTX insolvency, FTX state of affairs, FTX’s Chapter 11 submitting, League of Legends, Royal Bahamas Police Pressure, Sam Bankman-Fried, sbf

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Jamie Redman

Jamie Redman is the Information Lead at Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Information in regards to the disruptive protocols rising as we speak.

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