Bahamas authorities seized $3.5 billion in assets from FTX after bankruptcy

The authorities acquired the assets due to a risk of"imminent dissipation," according to a statement provided by FTX founder Sam Bankman-Fried. The funds were taken after reports of cyberattacks on FTX's systems and the theft of hundreds of millions of assets.

The commission has been scrutinized for its role in handling FTX's financial assets. While the regulator initially attempted to handle insolvency proceedings, FTX's lawyers pushed back against the commission by arguing that the government regulator had coordinated with Bankman-Fried and they did not trust the Bahamian government.

The Department of Justice announced on Tuesday that it was investigating the theft of $372 million from FTX's accounts on Nov. 12, a day after the company filed for Chapter 11 bankruptcy protections.Bankman-Fried was arrested in the Bahamas and extradited to the United States, where he appeared in court for the first time last week. He was released on $250 million bail and was forced to live with his parents. He is expected to enter a plea deal as early as next week.

That has not stopped him from receiving visitors, however. The Big Short author Michael Lewis visited SBF last Friday for several hours, the latest meeting between the two over six months for a book deal.

Source: News Formal (newsformal.com)

I guess zelensky and the Biden's have bank accounts in the Bahamas

Any politician that took any money to win elections should give all that back plus pay steep fines on going for there full term of office these crooked politicians endorsed a fool and fools endorsed them. The investors and voters got duped in a fake company and in fake politicia

Congress has to get their cut

No book deal if you get convicted fool. You can't profit from your crimes

Sam Bankman-Fried had 4 White House meetings in 2022 The most recent of these meetings, with senior White House adviser Steve Ricchetti, took place on September 8, around two months before the cryptocurrency mogul's FTX empire began to unravel.

That money belongs to the real investors that were scammed.

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