Royal Bahamas Police Force Reveals FTX Is Being Investigated for ‘Criminal Misconduct’

“A squad of fiscal investigators” are presently investigating the now-defunct crypto speech FTX, the Royal Bahamas Police Force said successful a connection shared connected Sunday. The constabulary noted that the fiscal investigators were searching to spot if “any transgression misconduct occurred.”

Bahamas Law Enforcement Looks Into FTX Collapse

After the Bahamas securities regulator took action against FTX connected Nov. 11, 2022, the country’s Securities Commission updated the nationalist the pursuing day. The regulating entity noted that it did not springiness support to FTX to authorize withdrawals for Bahamian customers.

“The Commission wishes to counsel that it has not directed, authorized oregon suggested to FTX Digital Markets Ltd. the prioritization of withdrawals for Bahamian clients,” the Bahamas securities regulator said connected Nov. 12. The regulator added:

The [Bahamas Securities Commission] does not condone the preferential attraction of immoderate capitalist oregon lawsuit of FTX Digital Markets Ltd. oregon otherwise.

Additionally, connected Nov. 13, Reuters reported that the Royal Bahamas Police Force commented connected the FTX concern and the constabulary said an probe was underway. “A squad of fiscal investigators from the Financial Crimes Investigation Branch are moving intimately with the Bahamas Securities Commission to analyse if immoderate transgression misconduct occurred,” the Bahamian constabulary serviceman told the quality outlet.

The quality work reached retired to FTX and executives did not “immediately respond to Reuters’ petition for a comment.” The quality follows FTX Digital Markets Ltd. filing for bankruptcy with Alameda Research and 134 different companies. One institution further explained that they were “erroneously included” successful FTX’s Chapter 11 filing.

Some person accused Sam Bankman-Fried (SBF) of playing the crippled “League of Legends, portion FTX crumbles astir him.” Cointelegraph reported that SBF and members of his interior ellipse whitethorn beryllium nether supervision by the section authorities. A formation radar report had shown SBF’s backstage pitchy flew to Argentina connected Nov. 12.

What bash you deliberation astir the Royal Bahamas Police Force commenting connected the FTX situation? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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