Bahamian government officials reportedly asked Sam Bankman-Fried to issue millions of dollars in new tokens in the wake of FTX’s collapse

On Monday, court documents from lawyers involved in the FTX Trading LTD Chapter 11 bankruptcy case allege that the Bahamas government asked disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that this was a “dynamic, live access request that would be provided immediately to the Bahamian government and Messrs.“

The Bahamian government is accused of receiving special treatment from disgraced FTX co-founder Sam Bankman-Fried.

Following the arrest of Sam Bankman-Fried (SBF) in the Bahamas, the U.S. Securities and Exchange Commission (SEC) has charged SBF with fraud regarding the collapse of FTX. In addition, reports show that the U.S. Attorney’s Office for the Southern District of New York (SDNY) and SDNY attorney Damian Williams have also charged SBF with crimes.

“The U.S. Attorney’s Office in Manhattan unveiled an eight-count indictment Tuesday against FTX founder Sam Bankman-Fried for a multiyear plan to siphon money from the collapsed crypto-currency exchange“, Rachel Scharf, a law360.com court reporter, revealed Tuesday. In addition, court documents from FTX’s Chapter 11 bankruptcy case indicate that FTX Digital Markets’ joint provisional liquidators filed a motion to dismiss FTX Property Holdings LTD’s Chapter 11 case.

Lawyers have also accused the Bahamian government of asking SBF to mint new digital tokens worth millions of US dollars. The tokens were allegedly given to Bahamian officials, according to FTX’s legal team. FTX’s new CEO, John J. Ray III, and his team noticed new tokens being issued and suspected SBF and FTX co-founder Gary Wang were the executives working on the orders from Bahamian officials. The news follows strange relationships that FTX officials, like exchange boss Ryan Salame, have had with vertical farming companies.

Ryan Salame and Bahamian Prime Minister Philip Davis traveled to Ohio to visit a company called 80 Acres Farms in January 2022. Also, during his interview with the team of Mario Nawfal’s Twitter SpacesFTX co-founder SBF admitted that withdrawals to Bahamian residents took place before FTX completely collapsed, and perhaps on two occasions. SBF also described giving the green light to withdrawals in the Bahamas in his two-part interview with Tiffany Fong (here and here). FTX’s U.S. attorney detailed this week that SBF has been negotiating with the Bahamian government and that $100 million per day in withdrawals would have been authorized by SBF.

Audio from my first interview with Sam Bankman-Fried. SBF talks bankruptcy, the alleged “backdoor,” donations to the Democratic Party, Ukraine money laundering rumors, the hack, Alameda’s margin position on FTX, using FTT as collateral & more. 👀 https://t.co/qVfUv6dhww

– Tiffany Fong (@TiffanyFong_) November 29, 2022

In our second phone call, SBF addresses the $8 billion hole, the use of FTX customer funds on Alameda, CZ & the run on the bank. (AUDIO)https://t.co/NLSLVX4JN4

– Tiffany Fong (@TiffanyFong_) November 29, 2022

In discussing the minting of new crypto tokens for the Bahamian government, lawyers say SBF and Gary Wang worked very closely with officials before the bankruptcy filing on November 11, 2022. “This is a live dynamic access request that would be provided immediately to the Bahamian government and Messrs. Samuel Bankman-Fried and Gary Wang, who are located in the Bahamas and work closely with Bahamian officials“, FTX’s lawyers said in the court filing.

After these allegations, theThe Bahamas Securities Commission has issued a statement and unreservedly denied the allegations made by FTX CEO John Ray in the court documents. The Bahamas regulator said the charges were intended to “create a false impression of communication between Mr. Bankman-Fried and the Commission“. Jamie Redman