Monday, December 5, 2022
 

FBI and Bahamas Authority Probe FTX Fall: US Calls SBF to Question

  • FBI and Bahamas plan to question Sam Bankman-Fried as part of the investigation on FTX fall.
  • Since the collapse of FTX, investigation officials from both countries have been probing into the role of SBF in the case.
  • SBF had been questioned by the Bahamian police and has been cooperative with the authorities.

The Federal Bureau of Investigation had been planning with the Bahamian authority to bring Sam Bankman-Fried to America to question him as part of the investigation on FTX collapse.

Notably, it had been identified that the report was verified by “three people familiar with the matter,” whose identities are masked because of the sensitivity of the case. In addition, the report highlighted that the investigation officials from America and the Bahamas probed in detail the role of SBF in the fall of FTX.

Interestingly, the implosion of FTX has its beginning months back. Investors began withdrawing their deposits soon after identifying a suspicious connection between FTX and Alameda Research. Though the Binance CEO, Changpeng Zhao declared to sell his FTT holdings and later buy FTX, he withdrew from his decision based on some “mishandled funds.”

Soon after, the community panicked and started withdrawing their holdings, finally leading to the company filing bankruptcy and SBF submitting resignation as an aftermath of a “severe liquidity crisis.”

Since last week, both the American and Bahamian investigators and regulators have been making efforts to probe the details regarding the company’s fall and the people behind it. As part of the investigation, Bahamian police questioned SBF last Saturday.

Significantly, it had been reported by one of the three people that SBF has been cooperating with the Bahamian authorities.

Though the investigation has been strict and regular, due to high confidentiality, neither the representatives of the US Justice Department in Washington nor the US Attorney’s Office in the Southern District of New York had spoken anything about the case.

However, it had been identified that till now, no one has been arrested or taken into custody in connection to the collapse of FTX.

  • FBI and Bahamas plan to question Sam Bankman-Fried as part of the investigation on FTX fall.
  • Since the collapse of FTX, investigation officials from both countries have been probing into the role of SBF in the case.
  • SBF had been questioned by the Bahamian police and has been cooperative with the authorities.

The Federal Bureau of Investigation had been planning with the Bahamian authority to bring Sam Bankman-Fried to America to question him as part of the investigation on FTX collapse.

Notably, it had been identified that the report was verified by “three people familiar with the matter,” whose identities are masked because of the sensitivity of the case. In addition, the report highlighted that the investigation officials from America and the Bahamas probed in detail the role of SBF in the fall of FTX.

Interestingly, the implosion of FTX has its beginning months back. Investors began withdrawing their deposits soon after identifying a suspicious connection between FTX and Alameda Research. Though the Binance CEO, Changpeng Zhao declared to sell his FTT holdings and later buy FTX, he withdrew from his decision based on some “mishandled funds.”

Soon after, the community panicked and started withdrawing their holdings, finally leading to the company filing bankruptcy and SBF submitting resignation as an aftermath of a “severe liquidity crisis.”

Since last week, both the American and Bahamian investigators and regulators have been making efforts to probe the details regarding the company’s fall and the people behind it. As part of the investigation, Bahamian police questioned SBF last Saturday.

Significantly, it had been reported by one of the three people that SBF has been cooperating with the Bahamian authorities.

Though the investigation has been strict and regular, due to high confidentiality, neither the representatives of the US Justice Department in Washington nor the US Attorney’s Office in the Southern District of New York had spoken anything about the case.

However, it had been identified that till now, no one has been arrested or taken into custody in connection to the collapse of FTX.

 

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