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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBahamian regulator holding $3.5 billion of FTX customer assets
The Securities Commission of the Bahamas has been holding on to more than $3.5 billion worth of FTX customer assets since Nov. 12, according to a statement from the regulator released late on Thursday. The decision to take custody of the funds, specifically from the crypto exchange’s FTX Digital Markets Ltd, followed security concerns. Hours […]
In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried – The New York Times
Yet in interviews across the island Mr. Bankman-Fried called home for just over a year, residents almost universally said that while the white-collar nature of his crimes was troublesome, they were hardly comparable to the gang violence that pervades some corners of the island. They expressed fears of economic fallout for the island if he […]
Disgraced crypto guru Sam Bankman-Fried will likely be placed on suicide watch | Daily Mail Online
Fallen crypto guru Sam Bankman-Fried is likely to be placed on suicide watch when moved to a tiny cell in his hellhole jail in the Bahamas, a prison official has told DailyMail.com exclusively. The former CEO of collapsed currency exchange FTX – who takes medication for depression – remains under evaluation in the maximum security […]
Fox Hill Prison Where SBF Held a Far Cry From His Luxury Penthouse – Bloomberg
Despite its bucolic name, Fox Hill is known for overcrowding, poor nutrition, inadequate sanitation and substandard medical care, according to a 2020 US State Department report. The report described rat and maggot infestation as well as tiny cells with only buckets for toilets. *** Lawyers familiar with the extradition process said Bankman-Fried’s failure to win […]
Sam Bankman-Fried’s ‘chronically overcrowded’ Bahamas jail is infested with rats and maggots | Daily Mail Online
Fallen crypto giant Sam Bankman-Fried will be remanded in custody in the Bahamas in a prison that was described in 2019 as ‘not being fit for humanity.’ On Tuesday, a judge in Nassau ordered that the FTX founder be held without bail while he fights extradition to the United States on a range of charges […]
Bahamas Told Bankman-Fried to Mint New Crypto as FTX Collapsed, Lawyers Say – Bloomberg
Bahamas government officials worked closely with Sam Bankman-Fried and tried to help him regain access to key computer systems of bankrupt FTX Trading, lawyers for FTX said in a court filing before the failed crypto magnate was arrested on Monday. Before Bankman-Fried was blocked from FTX systems, the Bahamas asked him to mint new digital […]
FTX executives spent $256 million on Bahamas real estate
Bahhamian lawyers say FTX executives Sam Bankman-Fried and Ryan Salame spent $256.3 million spent to buy and maintain 35 different properties across New Providence, Bahamas. Now, Bahamas regulators are trying to claw back the property from FTX’s U.S. bankruptcy protection proceedings, telling a Delaware federal bankruptcy judge that allowing the properties to be administered in […]