that Bahamian officials and attorneys for Bankman-Fried may be breaking U.S. law by keeping large quantities of assets outside of the Chapter 11 bankruptcy process — and that the Bahamas government and the Bahamas Securities Commission may have helped.
The Bahamian regulator did not mince words in its response today. It claimed, among other things, that Ray"intended only to make headlines and advance questionable agendas." It also finds Ray's filings"disturbing" for allegedly intending to"wrongfully confuse" the actions of Bahamian authorities involved in the matter.
The Securities Commission of The Bahamas also noted that it continues to investigate FTX's failure and is cooperating with law enforcement and regulators, both domestically and abroad."Bahamian law," it said. Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
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