Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse

On Monday, tribunal documents from lawyers progressive with the FTX Trading LTD Chapter 11 bankruptcy lawsuit allege that the authorities of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint caller crypto tokens. The lawyers elaborate that it was a “request for live, dynamic entree that would beryllium provided instantly to the authorities of the Bahamas and to Messrs.”

Government of Bahamas Accused of Getting Special Treatment From Disgraced FTX Co-Founder Sam Bankman-Fried

Following Sam Bankman-Fried’s (SBF) arrest successful The Bahamas, the U.S. Securities and Exchange Commission (SEC) charged SBF with fraud implicit the FTX collapse. Furthermore, reports amusement that the Southern District of New York (SDNY) prosecutor’s bureau and SDNY lawyer Damian Williams person charged SBF with crimes arsenic well.

“The Manhattan U.S. Attorney’s Office connected Tuesday unsealed an eight-count indictment charging disgraced FTX laminitis Sam Bankman-Fried with a multi-year strategy to siphon wealth retired of the now-collapsed crypto exchange,” law360.com tribunal newsman Rachel Scharf disclosed connected Tuesday. Furthermore, court documents from the FTX Chapter 11 bankruptcy lawsuit bespeak that the associated provisional liquidators of FTX Digital Markets filed a motion to disregard the Chapter 11 lawsuit of FTX Property Holdings LTD.

Lawyers person besides accused the authorities of The Bahamas of asking SBF to mint caller integer tokens worthy millions of U.S. dollars. The tokens were allegedly fixed to Bahamian officials, FTX’s ineligible squad said. FTX’s caller CEO John J. Ray III and his squad noticed that caller tokens were being issued and suspected that SBF and FTX co-founder Gary Wang were the executives who worked connected orders stemming from Bahamian officials. The quality follows the odd relationship FTX officials similar speech brag Ryan Salame had with vertical farming firms.

Ryan Salame and Bahamian premier curate (PM) Philip Davis visited Ohio to circuit a concern called 80 Acres Farms successful Jan. 2022. Furthermore, during his interview with Mario Nawfal’s Twitter Spaces crew, FTX co-founder SBF admitted that withdrawals to Bahamian residents took spot earlier FTX afloat collapsed, and perchance connected 2 occasions. SBF besides described giving Bahamian withdrawals the greenish airy successful his two-part interrogation with Tiffany Fong (here and here). FTX’s American lawyer elaborate this week that SBF negotiated with the Bahamian authorities and $100 cardinal a time successful withdrawals was allegedly permitted by SBF.

Discussing the minting of caller crypto tokens for the Bahamian government, the lawyers assertion SBF and Gary Wang worked with the officials precise intimately earlier the bankruptcy filing connected Nov. 11, 2022. “It is simply a petition for live, dynamic entree that would beryllium provided instantly to the authorities of the Bahamas and to Messrs. Samuel Bankman-Fried and Gary Wang, who are located successful the Bahamas and moving intimately with Bahamian officials,” the FTX lawyers said successful the tribunal filing.

After the allegations, the Securities Commission of The Bahamas issued a connection and wholeheartedly denied FTX CEO John Ray’s allegations published successful the tribunal filings. The Bahamas regulator said the accusations are meant “to make a mendacious content of communications betwixt Mr. Bankman-Fried and the Commission.”

What bash you deliberation astir the claims against the Bahamian officials? Do you deliberation SBF gave Bahamian officials peculiar treatment? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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