Bahamian Attorney General Ryan Pinder released a statement earlier today to address the situation with bankrupt crypto exchange FTX, which was headquartered in the island nation., AG Pinder, who also serves as the Bahamas’ Minister of Legal Affairs, detailed the actions taken by the government since FTX’s collapse. This address was also an attempt to reinstate investors’ confidence after the shocking scandal.
The Bahamas Securities Commission, the Financial Intelligence Unit, and the Financial Crimes Unit of The Royal Bahamas Police Force have actively been looking into the circumstances of FTX’s collapse. These agencies were also investigating any potential violation of Bahamian laws.
. He further added that the government had appointed provisional liquidators and seized FTX’s assets on behalf of the creditors.“It is important for me to share this summary of what took place, because over the last few weeks, the basic facts have been obscured by guessing games and rumors.” AG Pinder further alleged that the statements by FTX’s new CEO, John Ray III, had “misrepresented the timely action taken by the Securities Commission and used inaccurate allegations.”earlier this month, the U.S. Attorney’s Office in New York had launched an investigation into the mishandling of customer funds by FTX. The exchange also faced probes by the Securities and Exchange Commission, as well as the Commodity Futures Trading Commission.Subscribe to get it daily in your inbox.
Source: Law Daily Report (lawdailyreport.net)
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