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☆ Here are the emails, texts and photos that could put Sam Bankman-Fried in prison for life
▼ + stars: | 2023-11-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Zoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNYZoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNYZoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Zoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried.

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☆ The head of the legal system in the Bahamas said the US will 'likely' ask for Sam Bankman-Fried's extradition
▼ + stars: | 2022-12-13 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

The US is "likely" to request Sam Bankman-Fried be extradited to the US, the Bahamas attorney general said. The attorney general indicated the Bahamas intended to extradite Bankman-Fried if requested. The disgraced crypto founder was arrested in the Bahamas on Monday, according to US authorities. The Bahamas attorney general said in the statement that the US had filed criminal charges against Bankman-Fried and was "likely to request his extradition." Representatives for the Bahamas attorney general office did not immediately respond to Insider's request for comment made outside normal working hours.

☆ The SEC has charged Sam Bankman-Fried and accused him of 'orchestrating a massive, years-long fraud'
▼ + stars: | 2022-12-13 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

The SEC on Tuesday said in a complaint it charged Samuel Bankman-Fried with defrauding investors. The SEC accused Bankman-Fried of "orchestrating a massive, years-long fraud." "Sam Bankman-Fried built a house of cards on a foundation of deception," SEC boss Gary Gensler said. In its complaint, the SEC accuses Bankman-Fried of "orchestrating a massive, years-long fraud" by diverting "billions of dollars" of FTX's customer funds for "his own personal benefit and to help grow his crypto empire." The SEC said in its complaint that Bankman-Fried hid this information from equity investors of FTX.

CNBC's Andrew Ross Sorkin reported that the charges against Bankman-Fried include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Bahamas Attorney General Ryan Pinder said the United States was "likely to request his extradition." "While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere," the statement said. The Bahamas and the United States have had an extradition treaty in place since the early 20th century, when the Bahamas was still under British control. Legal experts told CNBC that if the federal government pursues wire or bank fraud charges, Bankman-Fried could face life in prison without the possibility of supervised release.

☆ Sam Bankman-Fried says he doesn't know who took $515 million from FTX's accounts after its bankruptcy filing
▼ + stars: | 2022-12-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried says he doesn't know who accessed FTX's systems without permission during its collapse. He admitted there was "unauthorized access," but said he had no idea who was behind it. John J. Ray III, the CEO appointed to oversee the company's bankruptcy, then confirmed that "unauthorized access to certain assets has occurred." But now, two weeks after the "suspicious" transfer of $515 million was first reported, Bankman-Fried says he doesn't know who was behind it. At the DealBook Summit, Bankman-Fried also said he doesn't think he's criminally liable for FTX's implosion, and his lawyers didn't want him to talk publicly.

☆ Bahamian Attorney General Defends Handling of FTX Collapse
▼ + stars: | 2022-11-28 | by ( Amrith Ramkumar | ) www.wsj.com time to read: 1 min

FTX Digital Markets Ltd. planned on building new headquarters in the Bahamas before the cryptocurrency exchange imploded. The Bahamian attorney general defended the island nation’s actions during the collapse of FTX Digital Markets Ltd. and urged patience while authorities investigate the embattled cryptocurrency exchange. In a national address late Sunday, Ryan Pinder disputed recent statements made by FTX’s new chief executive and lawyers in U.S. Bankruptcy Court questioning whether Bahamian regulators had the authority to take control of the local FTX subsidiary’s assets around the time of its bankruptcy earlier this month. He said they did have the right to do so under local laws and did so to protect customers and creditors.

☆ FTX remains focus of 'active' investigation, Bahamas attorney general says
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +3 min

Nov 27 (Reuters) - Collapsed cryptocurrency exchange FTX remains the subject of "an active and ongoing investigation" by Bahamian authorities, Bahamian Attorney General Ryan Pinder said on Sunday, as he praised the Bahamas' regulatory regime and swiftness with which it responded to the crisis. FTX, which had been among the world's largest cryptocurrency exchanges, is headquartered in the Bahamas. In mid-November, the Royal Bahamas Police said that government investigators in the Bahamas were looking at whether any "criminal misconduct occurred." read more"We are in the early stages of an active and ongoing investigation," Pinder said on Sunday, according to prepared remarks for the speech. Bahamas securities regulators had revoked FTX Digital's license and began involuntary liquidation proceedings the day before the U.S. bankruptcy case kicked off.

☆ The Bahamas has hit out at 'extremely regrettable' criticism from FTX's new CEO after the Nassau-based crypto giant collapsed
▼ + stars: | 2022-11-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

After FTX went bankrupt, the Bahamas suspended its license and took control of its digital assets. The Bahamas attorney general accused the FTX CEO of "inaccurate allegations" in his court filings. After the crypto exchange founded by Sam Bankman-Fried entered bankruptcy earlier in November, the Bahamas suspended FTX's license and took control of its digital assets by transferring them into a government crypto wallet. Ray is also known for acting as CEO for energy giant Enron, and handled its liquidation after accounting fraud. FTX's bankruptcy has led to calls for tighter crypto regulations from both US senators and the Bank of England.

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