TechFlow news — According to Bloomberg, in a court filing, FTX's U.S. restructuring team has accused the Bahamian government of interfering with FTX’s U.S. bankruptcy proceedings. FTX’s legal team alleged that before former CEO Sam Bankman-Fried (SBF) was blocked from accessing FTX systems, the Bahamas demanded he mint hundreds of millions of dollars worth of new tokens, which were then transferred under the control of Bahamian officials. When current FTX CEO John J Ray III and his team attempted to take control of FTX’s computer systems, they observed new tokens being minted. They ultimately concluded this activity was carried out by SBF and Gary Wang at the direction of Bahamian authorities.
FTX’s U.S. attorneys said Bahamian officials worked closely with SBF, noting that just one day after SBF told Bahamian authorities the platform could allow withdrawals for local users, $100 million flowed out of the platform.
Earlier today, it was reported that SBF has been arrested by Bahamian police. The U.S. has filed criminal charges against SBF and may seek his extradition. Damian Williams, U.S. Attorney for the Southern District of New York, said the indictment is expected to be unsealed Tuesday morning local time, when further details will emerge. The New York Times reported the U.S. criminal charges against SBF include wire fraud, securities fraud, and money laundering, among others.Original link
