Stop blaming Bahamas for FTX’s collapse, says Secretary of State.
FTX lawyers said Wednesday they have “no confidence” in the Bahamian government, accusing FTX’s leadership of colluding with now-jailed former CEO Bankman-Fried to help account holders recover $100 million in bankruptcy.
In a scathing voice recording distributed via WhatsApp on Friday morning, Bahamas Secretary of State Fred Mitchell said “this blame game aimed at the Bahamas” is undermining efforts to recover assets lost due to fraud.
“Every day an allegation is made against the Bahamas, but the jurisdiction of the alleged fraud is clear as to why the fraud took place,” Mitchell said.
“We in the Bahamas can ask one question: How did the mastermind of FTX end up on the front page of the American magazine Forbes? Which country’s magazine called him the next Warren Buffett? It was clearly America.
Bankman-Fried was arrested on Monday and transferred to a detention center in the Bahamas on Tuesday after a judge denied her request for bail. On Thursday, his lawyers filed a fresh application seeking bail, this time in the Supreme Court, a source said.
US prosecutors have accused the 30-year-old of embezzling billions of dollars and violating campaign laws in what has been described as one of America’s largest financial frauds.
“Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff.”