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The Bahamas Securities Commission (SCB) has denied the FTX debtor’s allegations and expressed concern that the investigation was “obstructed.”
according to the statement release On January 3, the Bahamas Securities Commission (SCB) was required to correct material misstatements filed with the press and courts by US-based FTX debtor representative John J. Ray III.
The document states that Chapter 11 debtors “publicly contested” the commission’s calculation of digital assets transferred to digital wallets under the commission’s custody in November 2022. .
These statements were based on “incomplete” information, alleging that the debtors did not request information from the Joint Provisional Liquidators to conduct due diligence.
The statement said FTX CEO John J. Ray III, during a court filing with the U.S. Financial Services Commission, requested that the commission “issue a substantial amount of new tokens” to FTX under oath. It added that it issued an official statement claiming to have instructed the
Chapter 11 Debtors also allege that digital assets managed by the Commission in the trust of FTX’s customers and creditors were “stolen,” but provide no evidence to support these claims.
The Commission shared its concern that its investigation was undermined by the Chapter 11 Debtors’ refusal to grant the court-supervised Joint Interim Liquidators access to FTX’s AWS systems. did.
SCB hopes that Chapter 11 debtors will proceed in good faith in the best interest of FTX’s customers and creditors.
Related: FTX Ordered To Pay Refund Fees To Bahamas Regulators
The Bahamian securities regulator’s announcement follows news filed with the court in December 2022. FTX lawyers allege that the Bahamian government has asked his former FTX CEO, Sam Bankman-Fried (SBF), to issue a new cryptocurrency controlled by a local authority.
Initial reports claimed Bahamian regulators had asked SBF to create hundreds of millions of dollars worth of new digital assets.
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