FTX faces criminal and civil investigation in the Bahamas

Minister of Legal Affairs revealed that there was an ongoing criminal and civil investigation against FTX

on the collapse of FTX. AG Pinder revealed that there was an ongoing civil investigation and a criminal investigation against the exchange in the Bahamas. He even stated that they were collaborating with several specialists and experts as part of the investigation but did not reveal any names. He also emphasized that while FTX was a legal entity in the Bahamas, its sister firm, Alameda Research did not have legal grounds to operate in the region. In addition, if Alameda is found to have “committed any improprieties”, then the company would be subjected to the laws of the region, he said.

Furthermore, AG Pinder stated that the country’s regulatory authority has taken several protective measures approved by the Supreme Court. However, these measures would not be revealed until the regulator is “confident” that the ongoing investigation would not be compromised. The Attorney General added,

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