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FTX claims Sam Bankman-Fried transferred funds to Bahamas after bankruptcy filings

Sam Bankman-Fried has found himself in more hot water after FTX's bankruptcy filing.

Donovan Erskine

November 17, 2022 2:20 PM

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Sam Bankman-Fried stepped down from his position as FTX CEO last week after the crypto exchange company filed for Chapter 11 bankruptcy. This came following a massive liquidity crunch that saw hundreds of millions of dollars in FTT being sold by several top investors. While Bankman-Fried admitted his responsibility for FTX’s downfall, his poor behavior may not have stopped after last week’s events. FTX claims that Bankman-Fried transferred assets to the Bahamas after the bankruptcy filing.

In a Delaware Bankruptcy Court filing today, FTX alleged that former CEO Sam Bankman-Fried attempted to access accounts containing company assets after stepping down from his position last week, as we learned from CNBC’s report. The disgraced CEO was allegedly successful in accessing those assets, which he then transferred to the Bahamian government.

If it’s determined Bankman-Fried did in fact access FTX funds unauthorized and transferred them to the Bahamas, he could be dealing with consequences on top of the fallout from the FTX bankruptcy filing. Visit the Shacknews FTX topic page for any updates on the situation.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_