NASSAU, BAHAMAS — The total value of the 38 properties in The Bahamas owned by FTX’s has been assessed to be worth $199 million, according to recent court filings. The court filing prepared for a creditor meeting on Monday showed that the FTX Bahamas properties included 15 properties in Albany Marina Residences worth $151 million and […]
NASSAU, BAHAMAS — US federal prosecutors allege that embattled FTX founder Sam Bankman-Fried used misappropriated customer funds to make more than $100 million in political campaign contributions. The newly filed indictment on Monday asserts that these funds were channeled into campaign donations in anticipation of the 2022 US midterm elections. The new indictment comprises seven […]
NASSAU, BAHAMAS- Liquidators for FTX Digital Markets have accused the company’s US arm of violating a cooperation agreement reached back in January as both sides appear locked in a jurisdictional battle regarding the ownership of customer accounts amounting to billions of dollars. More than a week ago lawyers for FTX US filed a complaint in […]
NASSAU, BAHAMAS — Attorney General Ryan Pinder said yesterday that this office made no filings on behalf of the government as FTX creditors, noting that the company does owe the government some real property tax. A recently filed 115-page FTX creditor list listed several government ministries as FTX creditors. Pinder said: “We didn’t make any […]
NASSAU, BAHAMAS — Several employees of FTX Digital markets have been made redundant, with the joint provisional liquidators indicating that due to the company’s financial position, they are unable to make redundancy payments. The liquidators have indicated that instead, employee redundancy payments will rank as a “preferred claim” against the company. It was unclear how […]
NASSAU, BAHAMAS — FTX Trading Ltd and its affiliated US debtors announced yesterday that they have come to terms for “mutual cooperation” with the Bahamian-appointed joint provisional liquidators in their recovery efforts, ending a weeks-long courtroom stand off over access to vital information regarding the collapsed crypto empire. FTX announced yesterday that the agreement would […]
NASSAU, BAHAMAS — The Securities Commission of The Bahamas (SCB) said yesterday that it has applied for directions from the Supreme Court of The Bahamas as to whether it can provide FTX’s US debtor representatives with information regarding some $3.5 billion in digital assets under its control. The regulator said in a statement that it […]
NASSAU, BAHAMAS — FTX Trading Ltd and its affiliated debtors announced last week that they will seek the return of any contributions made by the failed crypto exchange. The company has reportedly been approached by a number of recipients of contributions or other payments that were made by or at the direction of the FTX […]
NASSAU, BAHAMAS — In the wake of Sam Bankman-Fried’s official transfer from the custody of The Bahamas to the United States, The US Embassy released a statement boasting of the “strong partnership” displayed between the two nations. “The United States and The Bahamas share a long history of law enforcement cooperation. This cooperation includes everything […]
NASSAU, BAHAMAS — Jerone Roberts, attorney for FTX mogul Sam Bankman-Fried, told the court that his client was “anxious to leave” The Bahamas where he has been remanded for the past week. Bankman-Fried waived his right to a formal extradition hearing before Magistrate Shaka Serville this morning, bringing an end to the days-long speculation over […]
NASSAU, BAHAMAS — Foreign Affairs Minister Fred Mitchell has cautioned US legislators and FTX CEO John Ray against finger-pointing and casting aspersions that could harm the reputation of The Bahamas. His comments come as Sam Bankman-Fried, the former CEO of the collapsed crypto exchange returns to court today to reverse his decision to fight extradition […]
