Royal Bahamas Police Force reveals FTX is under investigation for “criminal misconduct”

A team of financial investigators“is currently investigating the now-defunct crypto-currency exchange FTX, the Royal Bahamas Police Force said in a statement shared Sunday. The police noted that financial investigators were looking to see if “any criminal misconduct has taken place.

Bahamas law enforcement investigates FTX collapse

After the Bahamas securities regulator took action against FTX on Nov. 11, 2022, the country’s Securities and Exchange Commission notified the public the following day. The regulatory entity noted that it had not given FTX permission to allow withdrawals for Bahamian customers.

The Commission wishes to advise that it has not directed, authorized, or suggested to FTX Digital Markets Ltd. that it give priority to withdrawals for Bahamian customers “, said the Bahamas Securities Regulator stated November 12. The regulator added:

The site [Bahamas Securities Commission] does not condone preferential treatment of any investor or customer of FTX Digital Markets Ltd. or otherwise.

In addition, on November 13, Reuters reported that the Royal Bahamas Police Force commented on the FTX situation and the police said an investigation was underway. “A team of financial investigators from the Financial Crimes Investigation Branch is working closely with the Bahamas Securities Commission to determine if any criminal misconduct has occurred,” the Bahamas police officer told the news outlet.

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The publication contacted FTX and officials did not “immediately respond to Reuters’ request for comment“. The news follows the bankruptcy filing of FTX Digital Markets Ltd. along with Alameda Research and 134 other companies. One company explained that it had been “erroneously included” in FTX’s Chapter 11 bankruptcy filing.

Some have have accused Sam Bankman-Fried (SBF) of playing the game “League of Legends, as FTX collapses around him“. Cointelegraph reported that SBF and members of his inner circle may be under surveillance by local authorities. A flight radar report had shown that SBF’s private jet had flown to Argentina on November 12.

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