Bahamian Police Interviewed FTX Founder Sam Bankman-Fried
- Bahamian police questioned Sam Bankman-Fried (founder of FTX) on Saturday, according Reuters.
- Police say they are investigating if there was “criminal misconduct” in connection to the downfall FTX.
- Rumours have it that Bankman-Fried fled to Argentina earlier in the week.
Police in the Bahamas interviewed Sam Bankman-Fried, founder of FTX, on Saturday as they investigate the downfall of the cryptocurrency company.
Bankman-Fried was questioned on Sunday by the Royal Bahamas Police in order to determine if any “criminal conduct” occurred, according to Reuters.
“In light the collapse of FTX global and the provisional liquidity of FTX Digital Markets Ltd.,” a team made up of financial investigators from Financial Crimes Investigation Branch is working closely with the Bahamas Securities Commission in an investigation into criminal misconduct,” the Royal Bahamas Police said in a statement to Reuters.
Their examination follows reports by the Securities Exchange Commission (SEC) and Department of Justice. opened investigationsinto the implosion at FTX. Analysts are calling the implosion of FTX the latest in a series called “a”. “crypto winter”It has been comparedLehman Brothers’ collapse in 2008, as well the downfalls at Theranos & Enron.
FTX filed Chapter 11 bankruptcy after failing to secure emergency funding. Bankman-Fried, who had lost 94% of his net worth, resigned as CEO of the company on Friday. He also admitted that he did not properly assess the company’s debt.
Saturday morning, FTX reported that it was investigating a hack involving “abnormal” withdrawals. The theft is estimated to have a value of hundreds of millions. The Financial Times later reported that FTX held only $900 million in sellable assets against $9 billion in liabilities.
Also, enjoy the weekend claims emergedBankman-Fried stated in a text message that the bankrupt founder fled to Argentina in his private jet. However, he claimed that he was in the Bahamas at the time.
“Nope,” he replied when asked if Argentina was his home.
FTX did in fact not immediately respond to Insider’s request to comment about the police investigation.
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