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CRIMINAL PROBE OF FTX LAUNCHED ...while FNM wants to know if government was left exposed By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net POLICE are working with the Securities Commission to investigate if any “criminal misconduct occurred” in view of the collapse of FTX, the Royal Bahamas Police Force announced yesterday. “In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd, a team of financial investigators from the Financial Crimes Investigation branch are working closely with the Bahamas Securities
FYRE FESTIVAL FRAUDSTER BACK WITH BAHAMAS EVENT
Commission to investigate if any criminal misconduct occurred,” a brief statement from police said. Meanwhile, the Free National Movement has called on the government to provide the investing public with a clear and cogent statement on the matter regarding FTX. Party leader Michael Pintard said the public needs to know what if any exposure exists for the government in view of the developments, and if there are any implications for the national budget. SEE PAGE THREE
FUNDS WITHDRAWN AFTER FTX ASSETS WERE FROZEN By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
FEARS were raised yesterday that the Supreme Court order freezing all assets of FTX’s Bahamian subsidiary was violated when some of the collapsed crypto currency exchange’s
BILLY McFarland showing off one of the bottles in his Exuma “treasure hunt” in a video posted to TikTok. By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net
clients withdrew their monies late last week. Those involved could be prosecuted for contempt of court and be forced to repay the funds.
FTX founder Sam Bankman-Fried.
FULL STORY - SEE BUSINESS
FYRE Festival organiser Billy McFarland has planned a new venture, returning to The Bahamas to host a “treasure hunt” which will be the focus of an upcoming documentary, according to international reports. US media outlet
PM REVEALS CARBON CREDIT PLAN By LYNAIRE MUNNINGS lmunnings@tribunemedia.net PRIME Minister Philip “Brave” Davis along with environmental enthusiasts revealed the Bahamas Blue Carbon Credit Management Initiative at the CARICOM Pavilion at COP27. Mr Davis expressed the importance of innovation and collaboration with the private sector and
PRIME Minister Philip “Brave” Davis at COP27 in Egypt. non-profit partners in an effort to bring about climate action within the Caribbean.
The Prime Minister, along with Dr Austin Gallagher, CEO of Beneath the Waves and Anthony Ferguson, director of Carbon Management Ltd for the government, explained the details surrounding carbon credits to the forum. Mr Davis referred to the conclusion of the Caribbean Regional Heads of Government’s two-day summit hosted by The Bahamas in SEE PAGE THREE
Nassau & Bahama Islands’ Leading Newspaper
Deadline first reported Mr McFarland’s idea of returning to the country for a “treasure hunt”. This comes despite Bahamians still being owed money from his previous venture - whose disastrous collapse in 2017 was detailed in documentaries on Netflix and Hulu. SEE PAGE THREE
INSIGHT FYRE, FTX AND THE HARM TO OUR NATION SEE PAGE EIGHT