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 […]
NASSAU, BAHAMAS — Disgraced FTX founder Sam Bankman-Fried has agreed to be voluntarily extradited to the United States. SBF’s lawyer Jerone Roberts confirmed to Eyewitness News that his legal team is now preparing the necessary legal documents, adding that he hoped SBF would be returned to court this week. He was flanked by attorneys Crystal […]
NASSAU, BAHAMAS — An emergency hearing for disgraced FTX founder Sam Bankman-Fried was forced to take a 45-minute recess after his lawyers told a magistrate his appearance this morning was “shocking” and “premature”. SBF’s counsel Jerone Roberts told magistrate Shaka Serville that he has not yet made any formal request for his client to appear […]
NASSAU, BAHAMAS — FTX’s joint provisional liquidators have refuted assertions that they “sat on their hands” and waited a month to file an emergency motion seeking to gain access to the collapsed company’s electronic records. The provisional liquidators argued that despite attempting to appear cooperative, the US Debtors have been “stringing the process along.” Court […]
NASSAU, BAHAMAS — Bahamas Department of Correctional Services acting Commissioner of Corrections Doan Cleare has confirmed that embattled former FTX CEO Sam Bankman-Fried is currently in the sick bay of the maximum security block with five other men. Cleare told Eyewitness News that the 30-year-old disgraced billionaire seemed to be in good spirits when he […]
NASSAU, BAHAMAS — Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, was yesterday remanded to the Bahamas Department of Correctional Services as he fights extradition to the United States. Citing his access to “substantial finances”, Chief Magistrate Joyann Ferguson-Pratt said she did not believe there was any bail condition she could impose that would […]
NASSAU, BAHAMAS — The US Securities Exchange Commission (SEC) has charged disgraced former FTX CEO Sam Bankman-Fried with orchestrating a scheme to defraud investors of billions of dollars which he diverted to his Alameda Research crypto hedge fund for his own personal benefit and to help grow his crypto empire. The regulator claims that since […]
NASSAU, BAHAMAS — FTX CEO John Ray III in a congressional hearing into the company’s collapse yesterday slammed The Bahamas’ company liquidation process as lacking transparency, claiming that the ‘pushback’ being received from the Bahamian government and regulators was ‘extraordinary’ and ‘irregular.’ Ray was addressing a House Financial Services Committee hearing into the collapse of the […]
NASSAU, BAHAMAS — Embattled former FTX CEO Sam Bankman-Fried claims that the company’s reported $300 million in Bahamian real estate purchases were aimed at attracting top Silicon Valley employees to The Bahamas. Bankman-Fried denied that he committed fraud and commingled FTX customer funds with his Alameda Research firm during a nearly hour-long interview yesterday. He […]
Liquidators say their work has been hampered by lack of access to company books and records NASSAU, BAHAMAS — The Court appointed joint provisional liquidators for Bahamas-based FTX Digital markets said yesterday that there remains “significant uncertainty” around the outcome of proceedings involving the company, noting that their work has been hampered by a lack […]
