Tag: Bahamas

Study on mysterious white spots off the Bahamas Islands: Scientists come across a mystery

Nature Study on mysterious white spots off the Bahamas Islands: Scientists come across a mystery Such white spots can be discovered again and again off the coast of the Bahamas Islands. ©NASA Spots of white have been sighted off the coast of the Bahamas Islands for around a hundred years. Researchers now wanted to find out why these spots form - and came across a new puzzle. There have been reports of mysterious white spots off the Bahamas Islands for...

Bahamas Authority to hold $3.5 billion worth of FTX client assets until Bahamas Supreme Court will order the return of FTX’s customers and creditors

Bahamas Securities Commission Holding Over $3.5 Billion in FTX Client Assets From Nov. 12, according to a regulatory statement published late Thursday. The agency stated that Money is stored in “A digital wallet regulated by the Commission for Security,” as the Commission said in a statement. The assets will remain in the custody of the Commission until the Supreme Court of the Bahamas orders them to be returned to FTX customers and creditors. The regulator previously noted that it had...

Crypto exchange FTX goes bankrupt: Bankman-Fried extradited to the USA – Economy

The founder of the now bankrupt crypto exchange FTX, Sam Bankman-Fried, who is suspected of fraud, is on his way back to the USA. The Attorney General of the Bahamas said he had waived his right to contest the extradition. The 30-year-old was arrested ten days ago at the request of the US authorities in the Caribbean country.In the United States, the former FTX boss faces a long prison sentence and has to face several lawsuits there. On Wednesday evening,...

Crypto exchange FTX goes bankrupt: Bankman-Fried extradited to the USA – Economy

The founder of the now bankrupt crypto exchange FTX, Sam Bankman-Fried, who is suspected of fraud, is on his way back to the USA. The Attorney General of the Bahamas said he had waived his right to contest the extradition. The 30-year-old was arrested ten days ago at the request of the US authorities in the Caribbean country.In the United States, the former FTX boss faces a long prison sentence, where he has to face several charges. On Wednesday evening,...

Top executives plead guilty to FTX bankruptcy – Economy

Caroline Ellison and Gary Wang want to work with the prosecutor to clarify the background of the bankruptcy. Crypto exchange founder Sam Bankman-Fried is extradited to the United States from the Bahamas.The noose around fraud suspect founder and former CEO of now-bankrupt crypto exchange FTX, Sam Bankman-Fried, continues to tighten. Two top executives pleaded guilty to fraud in connection with the bankruptcy, US Attorneys said on Wednesday. Caroline Ellison, the former head of Alameda Research, and Gary Wang, the former...

The Fox Hill Prison that holds the SBF in the Bahamas is notorious for overcrowding, poor sanitation, and physical abuse of inmates.

After being denied bail in a Bahamian Magistrates Court, Sam Bankman-Fried The former FTX CEO could spend up to two months in the nation's Fox Hill prison. It is a place where cases of abuse of prisoners have been reported and conditions are favorable. Authorities in the Bahamas reportedly handed over Bankman-Fried to the medical department of Foxhill. After a Dec. 13 hearing in which an SBF adviser said he was required to take drugs prior to his Dec. 12...

FTX founder’s bail dismissed due to risk of absconding – economy

The founder and former boss of the now bankrupt crypto exchange FTX, Sam Bankman-Fried, who was arrested on suspicion of fraud, will not be released until the trial date because of the risk of absconding. A judge in the Bahamas on Tuesday refused to post bail for Bankman-Fried and instead sent him to a local correctional facility. Bankman-Fried, who was arrested in the Bahamas the day before, bowed his head and hugged his parents after the judge denied bail on...

Bahamas court ‘not granting bail’ Sam Bankman-Fried Afraid to flee the country

According to local sources, on Dec. 13, lawyers for Sam Bankman-Fried (SBF) requested bail in a Bahamian court. After his arrest on December 12, pending an extradition request from US authorities. The move comes after Presiding Judge JoyAnn Ferguson-Pratt said that The Chief Justice said earlier today that the SBF had the right to seek bail. According to the request, the 30-year-old executive suffered from "Depression" and "insomnia" and he has no criminal record. and did not flee the Bahamas...