Only three people could make such payments, according to Salame’s statement to the Securities Commission of the Bahamas (SCB). These individuals included co-founder Zixiao “Gary” Wang, director of engineering Nishad Singh, and FTX founder Sam Bankman-Fried.
“The Commission understood Mr. Salame as advising that the transfer of clients’ assets in this manner was contrary to the normal corporate governance and operations of FTX Digital. Put simply, that such transfers were not allowed and therefore may constitute misappropriation, theft, fraud or some other crime.”
Immediately after receiving the information, the financial watchdog took action and on Nov. 10 ordered the freezing of FTX assets. In order to protect the company’s assets, the watchdog also suspended the exchange’s license and named a provisional liquidator.
Salame is presently in Washington, D.C., per the filing.
In the meantime, SBF has been detained by the Bahamas authorities at the US government’s request. He was refused bail because authorities fear he would flee.
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