Sam Bankman-Fried is “under supervision” by Bahamian authorities, looking to flee to Dubai￼
It is understood that Sam Bankman-Fried and two former FTX associates are currently “under supervision” by Bahamian authorities.
Sam Bankman-Fried is ‘under supervision’ in Bahamas, looking to flee to Dubai
Sam Bankman-Fried, the former CEO of FTX, Gary Wang, the co-founder, and Nishad Singh, the director of engineering, are believed to be in the Bahamas and are “under surveillance” by local law enforcement.
According to a source with knowledge of the situation, the three former FTX executives and Alameda Research CEO Caroline Ellison are searching for ways to escape to Dubai because that country “doesn’t have any extradition treaties,” most likely referring to extradition agreements with the United States.
“Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas. Which means it will be hard for them to leave,” said the source, who asked to remain anonymous, adding: “I just got word that they were trying to get a way to get to Dubai which doesn’t have an extradition treaty.”
The source has also revealed that Ellison is currently in Hong Kong, adding that means “she might be able to get to Dubai.”
The host of The Crypto Roundtable Show, Mario Nawfal, brought up a related hypothesis during a 16-hour Twitter Room. A guest speaker said “reliable sources” had seen Bankman-Fried “in a locked space” with law enforcement in Albany Tower, a posh hotel in New Providence, The Bahamas. Additionally, according to an unconfirmed report, his father, Joseph Bankman, is currently working with Bankman-Fried.
On November 10, rumors that Bankman-Fried had been detained on the tarmac at The Bahamas Airport circulated. According to the evidence, Bankman-private Fried’s aircraft had been grounded for 40 minutes while en route from Nassau to Miami.
Following the tracking of Bankman-private Fried’s plane’s whereabouts by Twitter users using the flight tracking website ADS-B Exchange on November 12, reports surfaced that he had arrived in Buenos Aires early that morning.
In a text message to Reuters sent later that day, Bankman-Fried refuted rumors that he had fled to Argentina and said instead that he was still in the Bahamas. One of the major scandals in the sector revolves around the former CEO of FTX.
According to a Nov. 9 article from The Wall Street Journal, the U.S. Department of Justice and the Securities and Exchange Commission are looking into the crypto exchange’s demise.
On November 10, the California Department of Financial Protection and Innovation (DFPI) said that it will begin an investigation into the “apparent failure” of the exchange.
On Nov. 11, bankruptcy proceedings were initiated by about 130 FTX Group firms, including FTX Trading, FTX US, and Alameda Research.
- FTX Founder Sam Bankman-Fried Denied Speculation That He’s Fled To Argentina
- FTX Is Filing For Bankruptcy, Sam Bankman-Fried Is Bowing Out Following Its Liquidity Crunch
- “All Funds Seem To Be Gone,” FTX Official Channel Admin Claimed The Crypto Exchange Had Been Hacked