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FTX Under Criminal Investigation in the Bahamas Following Bankruptcy Declaration
FTX, which filed for Chapter 11 bankruptcy protection in the US on Friday, is now under investigation in its headquarters in the Bahamas. "In light of the collapse of FTX globally and the provisional liquidations of FTX Digital Markets Ltd., a team of financial investigators from the Financial Crimes Investigation Branch are working closely with the Bahamas Securities Commission to investigate if any criminal misconduct occurred," the Royal Bahamas Police Force said in a release posted to Twitter Sunday. FTX Digital Markets is a subsidiary of FTX Trading and is licensed and regulated in the Bahamas. FTX, one of the world's largest crypto exchanges, is also facing an investigation by the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) into its mismanagement of customer funds and relationships with FTX.US and Alameda Research. This weekend, there has been increased speculation on the whereabouts of now-former CEO Sam Bankman-Fried, who told Reuters on Saturday he was in the Bahamas. Affiliate links may be automatically generated - see our ethics statement for details. Source - Gadget 360 #ftx
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