- Bahamian lawyers filed an emergency motion to a Delaware Bankruptcy Judge.
- The motion requested the judge to force FTX to surrender the financial details of the company.
- The details are asked for aiding the ongoing investigations regarding the role of SBF in the FTX crash.
The Security Commission of Bahamas filed an emergency motion on Friday, requesting a Delaware Bankruptcy Judge to ask the officials of the fallen cryptocurrency exchange FTX to provide access to the financial details of the company for aiding the further procedures of the ongoing investigations.
After FTX filed for bankruptcy, the former CEO of the company has been accused of transferring huge funds from the company’s holding to Alameda Research. Since then, investigators have been probing into the details of the financial frauds committed by SBF, to answer the queries of millions of FTX customers.
Significantly, the attorneys of the Bahamas have attempted several times to access the critical financial information regarding the case. However, as per the motion, the FTX employees and counsel restricted the Bahamian lawyers from accessing the information located in Amazon Web Services and Google Cloud Portal databases, despite “many attempts to obtain access”.
Furthermore, the Bahamian attorneys added that they require the data on FTX international customers stored on AWS servers, which include “wallet addresses, customer balances, deposit and withdrawal records, trades, and accounting data”.
According to the report,
While the Joint Provisional Liquidators are happy to engage in dialogue with the U.S. Debtors, their refusal to promptly restore access has frustrated the ability of the Joint Provisional Liquidators to carry out their duties under Bahamian law and placed FTX Digital’s assets at risk of dissipation.
It is to be noted that after requesting the submission of the details, the regulators confirmed that the bankruptcy proceeds will have “no harm or hardship if this relief is granted”.
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