- Bahamian police interrogated Sam Bankman-Fried, founder of FTX, on Saturday, according to Reuters.
- Police say they are investigating if there was “criminal misconduct” in connection to the collapse of FTX.
- Rumours have it that Bankman-Fried fled to Argentina this weekend.
Police in the Bahamas interviewed Sam Bankman-Fried, founder of FTX, on Saturday as they investigate the downfall of the cryptocurrency company.
Bankman-Fried was questioned on Sunday by Royal Bahamas Police in order to find out if there were any criminal misconducts, Reuters reported.
“In light the collapse of FTX global and the provisional liquidity of FTX Digital Markets Ltd.,” a team made up of financial investigators from Financial Crimes Investigation Branch is working closely with the Bahamas Securities Commission in an investigation into criminal misconduct,” the Royal Bahamas Police said to Reuters.
They were examined following reports from the Securities Exchange Commission, Department of Justice and others. Initiated investigationsinto the implosion at FTX. Analysts are calling the implosion of the company “a new example of what analysts call a “crypto winter”And has Been comparedLehman Brothers’ collapse in 2008 and the fall of Enron and Theranos were all factors that led to their demise.
FTX filed for Chapter 11 bankruptcy Friday after it failed to obtain emergency funding. Bankman-Fried was also sacked as CEO. The company lost 94% its net worth and he admitted to not properly assessing the debt.
Saturday morning saw FTX announce that it was investigating a possible hack involving “abnormal withdrawals” valued at hundreds of millions. The Financial Times later reported that FTX held only $900 million in sellable assets against $9 billion in liabilities.
Evenings and weekends are also available claims emergedBankman-Fried claimed that the founder fled Argentina in his private plane, but he denied this in a text message to Reuters. He stated that he was currently in Bahamas.
“Nope,” he responded to a question about Argentina.
FTX did in fact not respond immediately to Insider’s request that it comment on the police investigation.
