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FTX Suggests Sam Bankman-Fried Transferred Assets to Bahamas Gov’t Custody After Bankruptcy

Summary:

  • FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain “unauthorized access” to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection.
  • The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government.
  • The accusations were made by FTX in a motion in the United States Bankruptcy Court in Delaware. In that motion, FTX said the alleged conduct puts “In serious question” a request by Bahamian regulators for recognition as liquidators in the bankruptcy.


CNBC reports…

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain “unauthorized access” to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection.

The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government. It cites an interview published by Vox on Wednesday where Bankman-Fried expresses serious disdain for regulators.

“F— regulators,” he said in the interview. “They make everything worse. They don’t protect customers at all.”

“You know what was maybe my biggest single f—-p?” he asked. “Chapter 11.”

The accusations were made by FTX in a motion in the United States Bankruptcy Court in Delaware. In that motion, FTX said the alleged conduct puts “in serious question” a request by Bahamian regulators for recognition as liquidators in the bankruptcy…

Continue this story at CNBC

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