• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

Authorities in Turkey Seize FTX Founder Sam Bankman-Fried’s Assets

by
November 25, 2022
in Stock News
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Related Posts

IMF says risks to financial stability have increased, calls for vigilance

Awaiting possible indictment, Trump rallies in Waco and vows to ‘destroy the deep state’

Mississippi tornadoes kill 23, injure dozens overnight

Biden declares emergency as crews dig through storm wreckage

S&P Futures

4,036.00

+3.00(+0.07%)

 

Dow Futures

34,256.00

+45.00(+0.13%)

 

Nasdaq Futures

11,844.50

-18.25(-0.15%)

 

Russell 2000 Futures

1,869.40

+3.00(+0.16%)

 

Crude Oil

79.15

+1.21(+1.55%)

 

Gold

1,747.90

+2.30(+0.13%)

 

Silver

21.22

-0.15(-0.71%)

 

EUR/USD

1.0368

-0.0044(-0.43%)

 

10-Yr Bond

3.7330

+0.0270(+0.73%)

 

Vix

20.67

-0.62(-2.91%)

 

GBP/USD

1.2060

-0.0054(-0.44%)

 

USD/JPY

139.4770

+0.8870(+0.64%)

 

BTC-USD

16,515.01

-39.36(-0.24%)

 

CMC Crypto 200

386.22

+3.64(+0.95%)

 

FTSE 100

7,481.45

+14.85(+0.20%)

 

Nikkei 225

28,283.03

-100.06(-0.35%)

 

Amid a probe into the collapse of the FTX cryptocurrency exchange, Turkish authorities have seized the assets of Sam Bankman-Fried and other affiliates, the Turkish Treasury and Finance Ministry announced on Wednesday.

An inquiry into claims of fraud against the FTX former CEO Bankman-Fried has been opened as well, according to the statement.

The move follows last week’s initiation of a probe into the collapse of the exchange, which ran a local subsidiary called FTX Turkey.

Turkey Forces Crypto Exchanges to Report More Customer Information

Along with FTX, the agency is also looking into individuals and companies associated with the exchange, including financial institutions and crypto asset service providers.

Both investigations, launched under the country’s anti-money laundering laws, are led by the country’s Financial Crimes Investigation Board (MASAK), a department under the Ministry of Treasury and Finance.

The Turkish government added cryptocurrency exchanges to the list of entities subject to the country’s anti-money laundering and terrorism financing (AML / TF) regulations in May 2021.

FTX, once the third-largest crypto exchange by trading volume, filed for Chapter 11 bankruptcy protection in the U.S. on November 11, after running into liquidity issues, and is now under voluntary administration.

The exchange was allegedly using client money to make risky investment bets through Alameda Research, a trading firm founded by Bankman-Fried.

Bankman-Fried resigned as CEO on the same day as well and is currently in the Bahamas, where his parents and senior executives of the failed cryptocurrency exchange reportedly bought property worth $121 million using customers’ funds.

FTX Bankruptcy Hearing: Bahamas Liquidators Transfer Case to Delaware, Creditor Names Remain Redacted

Earlier this week, the judge overseeing the FTX case agreed to formally move a Chapter 15 bankruptcy case filed by Bahamian liquidators from New York to Delaware while keeping the names and addresses of the top 50 creditors—owed approximately $3.1 billion—redacted.

According to James Bromley, counsel to FTX’s new management, there was a “lack of corporate controls” at the exchange, with Bankman-Fried using FTX as his “personal fiefdom.”

Advertisement

Next Post

Binance, other crypto firms line up bids for bankrupt Voyager Digital after FTX collapse

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

Mississippi tornadoes kill 23, injure dozens overnight

by
March 26, 2023
0

Debris covers a damaged structure in Rolling Fork, Miss,. on Saturday, March 25, 2023. Powerful tornadoes tore through the Deep...

Read more

Mississippi tornadoes kill 23, injure dozens overnight

Awaiting possible indictment, Trump rallies in Waco and vows to ‘destroy the deep state’

IMF says risks to financial stability have increased, calls for vigilance

Biden declares emergency as crews dig through storm wreckage

Top 5 China Stocks To Buy And Watch: 3 Internet Giants Are Actionable

The Stock Market Hopes the Worst Is Over. Experience Says It’s Not.

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.