NASSAU, BAHAMAS — Former Prime Minister Dr Hubert Minnis believes the Opposition should call for the collapse of crypto asset exchange FTX to be debated in Parliament and that a select committee is formed in the interest of transparency and accountability.
Tempers flared across the floor of Parliament on Wednesday as former Prime Minister and Killarney MP Dr Hubert Minnis attempted to raise questions on the matter.
Leader of Government Business Obie Wilchombe argued that the matter was before the courts, and House Speaker Patricia Deveaux moved that Minnis should reserve his questions for the question and answer session in Parliament.
Minnis maintained that he would proceed with his inquiries outside of parliament.
In his written contribution sent to Eyewitness News, the former prime minister questioned whether Davis, his law firm, any of his Cabinet, or his senior advisors benefit in any way from FTX.
“Can the Government confirm the date or dates when any responsible supervisory Authority made “on-site” visits and inspections of the operations, ledgers of accounts, and books of FTX or any associated entity in The Bahamas, with full particularity as to the dates and time taken in such on-site visits and inspections?” Minnis said.
“Has the Government launched any criminal investigation against Mr. Bankman-Fried or any of his colleagues at FTX?
“How many Bahamians are known to have invested money in FTX, and how much money do they stand to lose based on Mr. Bankman Fried’s alleged transfer of billions in clients’ money to Alameda Research? What is the Government doing to ascertain the number?
Minnis called on Davis and any other ministers or government advisors, including the prime minister’s Chief Policy Advisor, need to fully disclose what financial discussions he had with FTX pertaining to the Bahamian people’s money or assets.
FTX Trading Ltd. had filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware back on November 11. However, the liquidators appointed by The Bahamas Supreme Court later filed a Chapter 15 suit in the Southern District of New York for FTX Digital Markets its Bahamian subsidiary.
In the first hearing into FTX’s collapse on Tuesday, the provisional liquidators agreed to transfer their bankruptcy case to the Delaware Court.
Davis said earlier this week that to his knowledge the Progressive Liberal Party (PLP) received no campaign financing or funding from FTX, assuring that the government has no exposure to the collapsed crypto company.
When asked directly whether the PLP had received any campaigning campaign finance from the crypto company, Davis replied: “not to my knowledge.”
When asked whether any Cabinet minister was invested with the company, he said: “I do not know that.”
Davis said that he is not invested in the company, adding: “I am agnostic to it. I don’t hold any wallet and I am not aware of any of my Cabinet ministers doing so.”
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