TechFlow news — The Securities Commission of the Bahamas has rejected claims made by FTX's new CEO, John J. Ray III, in connection with FTX's U.S. bankruptcy proceedings, specifically the allegation that Bahamian officials colluded with SBF to shield the failed crypto exchange’s assets from U.S. bankruptcy jurisdiction. Additionally, the Securities Commission stated it will continue its investigation into the FTX collapse and is cooperating with domestic and international law enforcement and regulatory authorities.
The Bahamian regulator said in a statement that Ray relied on edited email communications between SBF and Bahamian officials to create a false impression of coordination between SBF and the Commission. Ray was aware that complete emails showed SBF admitted he did not report to the Securities Commission. The Bahamian authority responded that John J. Ray III’s key misstatements appear unrelated to facts and seem intended solely for headline impact and advancing a questionable agenda. Ray’s filing “continues to inaccurately conflate” the Bahamian government, the Commission, and the court-approved liquidators.Original link
