Sam Bankman-Fried, the 30-year-old Jewish founder of FTX and two senior executives, are “under the supervision of the authorities” at a luxury resort in the Bahamas, while they plan to escape to Dubai, which is a safe haven without an extradition treaty.
The founder and former CEO of the collapsing crypto firm, Sam Bankman-Fried, is with his inner circle friends in the Bahamas as his empire crumbles around him, the Daily Mail reported. FTX’s Sam Bankman-Fried resigned last Friday, When the crypto company he owned filed for bankruptcy, reports in the US indicate that up to $2 billion of customer money has disappeared from the company’s books in recent weeks.
A source told the Coin Telegraph website: “Currently three partners, Sam, Gary and Nishad are under supervision in the Bahamas. Which means it will be difficult for them to leave.” The same source said there was a plan for Bankman-Fried to flee to Dubai in the United Arab Emirates, a country without extradition treaties, “when the walls close around him.”
The same source said it was Bankman-Fried’s plan to flee to Dubai in the United Arab Emirates, a country with no extradition treaties, as the walls close around him. The Wall Street Journal reported on November 9 that the US Department of Justice and the Securities and Exchange Commission are investigating whether to open an investigation into FTX.
The source added that Yosef, Bankman-Fried’s father, is also in the Bahamas with his son. The resort where Bankman-Fried hides is owned by golf legend Tiger Woods, British billionaire Joe Lewis and singer Justin Timberlake.
FTX founder holed-up in Bahamas resort as his crypto empire crumbles https://t.co/6b9WEALrqj
— Daily Mail Online (@MailOnline) November 13, 2022
The company is currently run by a friend of Bankman-Fried, Caroline Allison. According to its LinkedIn page, the company is based in the Bahamas. In the US it was reported that Alison is in Hong Kong. The site quotes a source who says: ‘Maybe she can get to Dubai’. Earlier, internet researchers discovered that 515 million dollars disappeared from FTX’s accounts under “suspicious circumstances”.
In 2022, Bankman-Fried was one of the largest donors to the Democratic Party. A large part of the amount that was in the company’s account has since disappeared, one source estimated the missing amount at about 1.7 billion dollars. The second said the gap was between $1 billion and $2 billion