Home Insurance FTX’s Bankman-Fried in points of interest of fraud investigation over Bahamas cash

FTX’s Bankman-Fried in points of interest of fraud investigation over Bahamas cash

Craig Barritt

FTX (FTT-USD) founder Sam Bankman-Fried is within the crosshairs of a fraud case from U.S. prosecutors in regards to the dealing with of budget, Bloomberg reported Friday.

Prosecutors are analyzing if loads of hundreds of thousands of greenbacks could have been transferred to the Bahamas simply as FTX was once submitting chapter in November, Bloomberg reported, mentioning an individual accustomed to the topic.

Bankman-Fried mentioned previous Friday he is “prepared to testify” on December 13 in entrance of the Space Monetary Products and services Committee.

“I nonetheless would not have get admission to to a lot of my knowledge — skilled or private. So there’s a prohibit to what I will say, and I would possibly not be as useful as I might like,” Bankman-Fried wrote in a Twitter put up in keeping with requests from Space Monetary Products and services Committee Chairwoman Maxine Waters (D-CA).

Bankman-Fried has no longer been charged with any crimes and a spokesman for him declined to remark to Bloomberg on the most recent file of an investigation into fraud.

On Thursday, the New York Occasions reported that Bankman-Fried was once mentioned to be hit with an investigation by way of federal prosecutors on whether or not he manipulated the costs of terraUSD (UST-USD) and its sister token luna (LUNC-USD) this Might that resulted in their implosion and in the long run led to the downfall of his crypto empire.