Opposition demands investigation into alleged $675,000 FTX donations linked to government officials and their families – Eye Witness News

NASSAU, BAHAMAS — The opposition is demanding an immediate investigation into allegations that FTX paid $675,000 to entities affiliated with top government officials and their families.

The allegations were made by Robert Cleary, the examiner appointed by the US Department of Justice's trustee to investigate the collapse of the crypto exchange.

Opposition Leader Michael Pintard said in a statement: “The opposition is alarmed by allegations that FTX paid some $675,000 in donations to companies with close ties to senior government officials.

“To protect the reputation of the Bahamas as a credible and legitimate place to do business, the Prime Minister must immediately agree to launch a full and thorough investigation into these allegations of potential public corruption.

The FNM leader asked: “Which companies received these funds and who were the ultimate beneficiaries? For what purposes were the amounts paid?

“Have the senior government officials involved declared the conflict of interest?

“Did these senior officials hold positions that directly or indirectly influence decisions impacting FTX, its competitors, or the digital marketplace?

“Do Bahamian court-appointed liquidators have access to this information regarding nearly $700,000 in “donations” to companies affiliated with senior Bahamian officials and their families?

“Have the Bahamian liquidators referred the matter to authorities for further criminal investigation?”

Pintard noted that the opposition anticipates that the necessary investigation will examine the activities of all officials who had spheres of influence over FTX-related decisions, regardless of their political affiliation, before and after the change of administration. He added: “Let the chips fall where they may. »

“Let us not forget that although the investigation and subsequent trial of now-convicted criminal Sam Bankman-Fried revealed a series of crimes that also allegedly violated the Bahamas DARE Act, we have received no explanation for the reasons why these apparent violations of Bahamian law were committed. never been thoroughly investigated and prosecuted,” Pintard said.

Pintard renewed his calls for the government to appoint a special bipartisan commission of Parliament to examine all issues related to the collapse of FTX.

“We must move beyond partisan politics and work collaboratively with industry stakeholders to ensure our legislative, regulatory and policy framework can build a robust and agile digital assets industry that attracts only credible entities engaged in sound business practices,” he noted.

Pintard concluded: “The Prime Minister must ensure that the Bahamian Government takes the lead in the investigation and is not pressured into action by subsequent revelations from outside sources. If the Davis administration evades its constitutional duty to protect the integrity of the jurisdiction against serious allegations of apparent misconduct by Bahamian public officials, the Prime Minister will once again demonstrate to the Bahamian people and the global investment community that he and his cabinet neither have the interest nor the propensity to uphold the rule of law and necessary standards of conduct in public life.