It is known that Sam Bankman-Fried and two former FTX associates are currently being supervised by Bahamian authorities.
Disclaimer: The article has been updated to clarify that the US and the UAE have an agreement on evidence sharing, judicial cooperation and assistance in criminal investigations and prosecutions. As a result, U.S.-based fugitives attempting to move to Dubai will most likely be detained and sent back to the United States.
FTX former CEO Sam Bankman-Fried, co-founder Gary Wang, and director of engineering Nishad Singh are believed to be in the Bahamas and are being supervised by local authorities.
Sources familiar with the matter say that three former FTX executives and Alameda Research CEO Caroline Ellison are looking for ways to leave the US. They are reportedly looking to move to Dubai. The plan was made assuming that the United States does not have any extradition treaties with the UAE, but on February 24, 2022, the two countries signed a mutual legal assistance treaty (MLAT) to work together against criminals.
United States and United Arab Emirates sign bilateral agreement enhancing law enforcement cooperation. Source: Justice.gov
“Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas, which means it will be hard for them to leave,” said the source, who asked to remain anonymous. The source has also revealed that Ellison is currently in Hong Kong, adding that means “she might be able to get to Dubai.”
However, one community member cited his source in the U.S. government to confirm that FTX members attempting to reach Dubai will be detained at the airport and sent straight back to the United States.
A similar theory was discussed by The Crypto Roundtable Show host Mario Nawfal, with a guest speaker claiming “trusted sources” have seen Bankman-Fried “in a locked space” with authorities in Albany Tower – a luxury resort located in New Providence in The Bahamas.
An unverified rumor also suggests that Bankman-Fried is currently joined by his father, Joseph Bankman.
Rumors circulated on November 10 that Bankman-Fried had been arrested at the Bahamas Airport. There was evidence that his private jet had been grounded for 40 minutes while en route to Miami.
On November 12, rumors circulated that Bankman-Fried had landed in Buenos Aires in the early hours of the day after Twitter users tracked his private jet’s coordinates using the flight tracking website ADS-B Exchange.
Later in the day, Bankman-Fried texted Reuters denying speculation that he had fled to Argentina, claiming that he was still in The Bahamas.
The former FTX CEO is at the center of one of the biggest scandals in the industry.
A report from The Wall Street Journal on Nov. 9 said that the U.S. Department of Justice and the Securities and Exchange Commission are investigating the collapse of the crypto exchange.
The Department of Financial Protection and Innovation (DFPI) in California announced on 10 November that it will open an investigation into the apparent failure of the exchange.
