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 supervision” by the local law enforcement, as reported by Cointelegraph.
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.
Cointelegraph further noted that former FTX CEO Sam Bankman-Fried, co-founder Gary Wang, and director of engineering Nishad Singh are thought to be in the Bahamas and are “under supervision” by the local law enforcement.
The three former FTX executives and Alameda Research CEO Caroline Ellison, according to a source with knowledge of the situation, are looking for ways to flee to Dubai because that nation “doesn’t have any extradition treaties,” most likely referring to extradition agreements with the United States.
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) announced that it would begin an investigation into the “apparent failure” of the exchange, Cointelegraph further noted.
On Nov. 11, bankruptcy proceedings were initiated by about 130 FTX Group companies, including FTX Trading, FTX US, and Alameda Research.
(With insights from Cointelegraph)
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