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Volume: 120 No.267, December 15, 2022
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‘FTX’S BAHAMAS HEAD CONFESSED’
Securities Commission director says admission led to liquidation move By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE head of FTX’s Bahamian subsidiary sparked an “urgent” police probe into possible criminal misconduct when he confessed to local regulators about the misuse of multibillion dollar client funds. Christina Rolle, the Securities Commission’s executive director, in a November 10, 2022, affidavit said the admissions by Ryan Salame during the final hours of the crypto currency exchange’s implosion sealed the decision to place FTX Digital Markets
in provisional liquidation under the Supreme Court’s supervision. The freshly-unsealed affidavit revealed that the outcome of the previous day’s conference call with Mr Salame, which was also attended by Allyson Maynard-Gibson KC, the former attorney general, in her capacity as FTX Digital Markets’ local attorney, “exacerbated the need for the intervention” of the Supreme Court given revelations that will place Sam Bankman-Fried and his inner circle in further legal peril. FULL STORY - SEE BUSINESS
SHOPPERS WARNED: DON’T GO BROKE FOR CHRISTMAS By JADE RUSSELL jrussell@tribunemedia.net
A FINANCIAL expert urged residents to take a “pause” and not to go broke this Christmas season while shopping. Gowon Bowe, Fidelity Bank Bahamas’ CEO, said people should manage their money cautiously as “Christmas doesn’t stop the
world from turning”. “Persons must be reminded that after Christmas, there’s still going to be utility payments, there’s still going to be housing payments, whether that’d be rent or mortgage. There’s still going to be the need for school fees and still going to be the need for putting food on the table,” he said when SEE PAGE FOUR
ide Holid ys ide November 1st - December 27th, 2022
into the
Holid ys
Walking in a winter wonderland CHRISTMAS lights at Pompey Square last night - with family the theme of the display. See PAGE TWO for more. Photo: Austin Fernander
AFTER several months of negotiations, Nassau Flight Services and the Airport Airline and Allied Workers Union (AAAWU) signed a five-year industrial agreement at the Office of the Prime Minister yesterday. Some of the features of the new industrial agreement include lump sum
AAAWU general secretary Susan Palmer at the signing. Photo: Austin Fernander payments, increments over a three-year period and
increases in workers’ meals and travel allowances, among other things. AAAWU’s general secretary, Susan Palmer admitted that negotiations began on a “contentious” note, but ended harmoniously. Obie Roberts, chairman of NFS, agreed, saying after several months of negotiations, he was happy that both parties were able to come to an amicable
ide into the
Holid ys
Buy a Combo (Deluxe, King, King’s Feast or Family Deal) for a chance to win a BYD 2022 Han electric vehicle.
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ACTING Commissioner of Corrections Doan Cleare said former FTX CEO Sam Bankman-Fried is getting no preferential treatment in prison, adding that “all inmates are treated equally”. The acting commissioner told The Tribune yesterday that the 30-year-old will remain in the prison’s infirmary until the facility’s classification board has seen him and recommended a suitable place for him to be housed. As for what the options the board may look into, Mr Cleare said: “That is (privileged) information — I cannot release that to the public. I cannot give you the options the classification board will give me because I don’t have the options as yet. They will be seeing him sometime today or tomorrow. He will be placed in a well secured area (of BDCS).” SEE PAGE THREE
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net
Wi BYD 2n0a Han EV22 !
By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net
RBC DIGITAL BANKING IN 3-DAY OUTAGE
AIRLINE WORKERS SIGN AGREEMENT
into the
‘NO SPECIAL TREATMENT FOR FTX FOUNDER IN PRISON’
Nassau
Nassau & Bahama Islands’ Leading Newspaper
SEE PAGE FIVE
ROYAL Bank of Canada (RBC) yesterday pledged it is “working diligently” to restore its digital banking platform with businesses branding the three-day woe as “an absolute catastrophe” for commerce. Multiple Bahamian companies told Tribune Business the “crazy” situation had left them unable to make or receive paymentswhen RBC’s online and mobile banking platform went down. FULL STORY - SEE BUSINESS
FRONT PORCH:
IGNORANCE POSES THREAT TO OUR POLITICAL SYSTEM
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