POLICE have not interviewed former FTX CEO Sam Bankman-Fried, Commissioner of Police Clayton Fernander said.
He said police are waiting for information from the Securities Commission regarding the FTX investigation.
The Royal Bahamas Police Force announced on Sunday that police are working with the Securities Commission to investigate if any “criminal misconduct occurred” in view of the crypto exchange giant’s collapse.
Asked for an update on the investigation, Commissioner Fernander told reporters: “There’s not much I can say. There was a statement that I sent out on Sunday that the Security Commission is in full control of the investigation at this point. We are still working alongside them and we are just waiting on information from them that we could move forward. That’s the most I could tell you at this present moment.”
Last week, local regulators moved to protect clients of The Bahamas’ flagship crypto currency investor by “freezing” its assets, and seizing control of the company.
In addition, the US Justice Department is also investigating FTX.
According to Tribune Business, the probes are said to be focusing on whether Mr Bankman-Fried and FTX used customers’ deposits to fund bets and trading activities at his hedge fund, Alameda Research.
Client funds are supposed to be kept separate from company assets, and there were suggestions the FTX founder has committed the “ultimate sin” by tapping into FTX’s custodial assets to fund Alameda Research.
Commissioner Fernander said he had no communication with the US investigators and does not know if the Securities Commission did.
He also shot back at speculation on social media about the police investigation.
“Please we don’t investigate in social media we deal with facts and as I‘ve indicated we have not spoken to him. We are waiting for information from the Securities Commission.
“As you are fully aware, they’re in charge of the investigation at this point. And as it comes available we will update you. But at this point in time, we are not investigating this matter at this time, but we are in communication with the commission.”
Commenting has been disabled for this item.