Report: Bahamas Government asked Sam Bankman-Fried to mint new cryptos

As per new reports, the Bahamas Government asked Sam Bankman-Fried to mint new cryptos. This Monday, the court documents from lawyers involved in the FTX scam case pointed out that the Bahamas government could also have been involved with SBF. The lawyers of the FTX legal team added that it was a request for live, dynamic access that would be given to the Bahamas Government immediately.

The government of the Bahamas asked SBF to mint new tokens

Recently, Sam Bankman Fried, CEO of FTX exchange, was arrested in The Bahamas. The US SEC charged him with fraud over the FTX collapse. Also, the reports indicate that the SDNY prosecutor’s office has charged him with many other crimes, which could lead him to life imprisonment. 

On Tuesday, Mr Schraf, a court reporter for law360.com, disclosed that the US Attorney’s Office of Manhattan unsealed an eight-count indictment charging SBF with a multiple-year scheme to siphon money out of the FTX collapse. Some court documents indicate that the joint provisional liquidators of FTX Digital Markets filed a motion to remove the 11-Chapter case of FTX Property Holdings Ltd.

During the case, the lawyers made a big accusation that the Bahamas government asked SBF to mint new digital tokens worth millions of US dollars. J. Ray III, FTX’s new Chief Executive Officer, said they noticed that the new tokens were minted and suspected that SBF were the ones who were working to send it to the Bahamas government.

Bahamas Government on the accusation 

While discussing the minting of the new crypto tokens for the government, the lawyers also claimed that the co-founders of FTX, SBF and Gary Wang worked closely with the higher officials before they filed for their bankruptcy last month. 

After the lawyers made the allegations, the Securities Commissions of the Bahamas replied by issuing a statement and denying all the allegations of FTX’s new CEO, Mr Ray, published in the court filings. They said the accusation was made to create wrong impressions between SBF and the Commission. 

What are your thoughts on the ongoing case of the FTX Scam? Do you think that the Bahamas Government really asked Sam Bankman-Fried to mint new cryptos? Let us know in the comments below. And, if you found our content informative, share it with your family and friends. 

Also Read: Sam Bankman Fried could face upto 115 years in prison for the FTX scam.