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

On Monday, court docket paperwork from attorneys concerned with the FTX Trading LTD Chapter 11 chapter case allege that the federal government of The Bahamas requested the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The attorneys detailed that it was a “request for live, dynamic access that would be provided immediately to the government 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 in The Bahamas, the U.S. Securities and Exchange Commission (SEC) charged SBF with fraud over the FTX collapse. Furthermore, studies present that the Southern District of New York (SDNY) prosecutor’s workplace and SDNY legal professional Damian Williams have charged SBF with crimes as effectively.

“The Manhattan U.S. Attorney’s Office on Tuesday unsealed an eight-count indictment charging disgraced FTX founder Sam Bankman-Fried with a multi-year scheme to siphon money out of the now-collapsed crypto exchange,” law360.com court docket reporter Rachel Scharf disclosed on Tuesday. Furthermore, court documents from the FTX Chapter 11 chapter case point out that the joint provisional liquidators of FTX Digital Markets filed a motion to dismiss the Chapter 11 case of FTX Property Holdings LTD.

Lawyers have additionally accused the federal government of The Bahamas of asking SBF to mint new digital tokens value tens of millions of U.S. {dollars}. The tokens had been allegedly given to Bahamian officers, FTX’s authorized crew mentioned. FTX’s new CEO John J. Ray III and his crew seen that new tokens had been being issued and suspected that SBF and FTX co-founder Gary Wang had been the executives who labored on orders stemming from Bahamian officers. The information follows the odd relationship FTX officers like trade boss Ryan Salame had with vertical farming companies.

Ryan Salame and Bahamian prime minister (PM) Philip Davis visited Ohio to tour a enterprise known as 80 Acres Farms in Jan. 2022. Furthermore, throughout his interview with Mario Nawfal’s Twitter Spaces crew, FTX co-founder SBF admitted that withdrawals to Bahamian residents happened earlier than FTX totally collapsed, and probably on two events. SBF additionally described giving Bahamian withdrawals the inexperienced gentle in his two-part interview with Tiffany Fong (here and here). FTX’s American legal professional detailed this week that SBF negotiated with the Bahamian authorities and $100 million a day in withdrawals was allegedly permitted by SBF.

Discussing the minting of recent crypto tokens for the Bahamian authorities, the attorneys declare SBF and Gary Wang labored with the officers very carefully earlier than the chapter submitting on Nov. 11, 2022. “It is a request for live, dynamic access that would be provided immediately to the government of the Bahamas and to Messrs. Samuel Bankman-Fried and Gary Wang, who are located in the Bahamas and working closely with Bahamian officials,” the FTX attorneys mentioned within the court docket submitting.

After the allegations, the Securities Commission of The Bahamas issued a press release and wholeheartedly denied FTX CEO John Ray’s allegations revealed within the court docket filings. The Bahamas regulator mentioned the accusations are meant “to create a false impression of communications between Mr. Bankman-Fried and the Commission.”

What do you consider the claims in opposition to the Bahamian officers? Do you suppose SBF gave Bahamian officers particular therapy? Let us know what you consider this topic within the feedback part under.