Turkish authorities have seized assets belonging to the failed crypto currency exchange, FTX, which went bankrupt and whose founder, Sam Bankman-Fried, escaped with reportedly over a billion dollars in investors’ money.
In a statement yesterday, Turkiye’s Treasury and Finance Ministry announced that an inquiry has been opened into claims of fraud against Sam Bankman-Fried, the former CEO of the crypto currency exchange FTX. In the process of that investigation, Turkish authorities seized his assets under the subsidiary FTX TR, as well as those of his company’s affiliates.
Bankman-Fried and FTX – which collapsed this month and reportedly went from being worth $32 billion to only $1 billion in liquid assets – were accused of conning investors out of their money and using it to finance and buy real estate for his other company, Alameda Research.
Other allegations pointing to fraud include the disgraced CEO and FTX never having any board meetings, lacking positions essential to a functioning crypto currency platform, and that many employees were fake in order to maintain the scheme.
Following FTX’s collapse, Bankman-Fried fled to the Bahamas, where no extradition treaty with the United States is in place and where his parents bought property worth $121 million using the allegedly stolen investor funds.
SBF spotted at his Bahamas penthouse with his parents, enjoying a pre thanks giving meal 👀 pic.twitter.com/qscgN6nhoR
— Crypto Crib (@Crypto_Crib_) November 23,…
