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FTX Filing Alleges Bahamas Authorities Coordinated With Bankman-Fried

Attorneys representing the current leadership of FTX, those representing the Bahamas-based trading operation still controlled by former CEO Sam Bankman-Fried, and the Bahamian government are all wrangling over hundreds of millions of dollars' worth of assets kept in the island nation.

In a bombshell motion filed in a U.S. court late yesterday, attorneys representing the failed crypto exchange and its new CEO, corporate bankruptcy and restructuring specialist John Ray, imply 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.

(By Colin Wilhelm)

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