Sam Bankman-Fried has resigned as CEO of crypto exchange FTX.
The Bahamas police said it’s investigating potential “criminal misconduct” at FTX.
FTX filed for Chapter 11 bankruptcy on Friday and its founder Sam Bankman-Fried has resigned as CEO.
FTX has been embroiled in a dramatic liquidity crisis since last week.
The Bahamas police is investigating Sam Bankman-Fried’s beleaguered and now bankrupt crypto exchange FTX for “criminal misconduct,” the law enforcement authority said in a Sunday statement.
The Bahamian police added that its financial crime investigation branch is “working closely” with the Bahamas securities regulator in the investigation.
—Royal Bahamas Police Force (@RBPFPolice) November 13, 2022
Last Thursday, the Securities Commission of the Bahamas’ froze the assets of an FTX subsidiary, compounding its financial woes. The securities regulator said at the time it was aware of statements suggesting FTX mishandled, mismanaged, or transferred the assets of clients to…
This article was written by [email protected] (Huileng Tan) and originally published on markets.businessinsider.com