Sam Bankman-Fried wanted to regain control of FTX by moving assets and getting better treatment from foreign regulators, Justice Department says
Prosecutors also say that although the crypto exchange froze customer withdrawals in late 2022, Bankman-Fried unfroze accounts in the Bahamas and allowed millions in customer withdrawals, to show his gratitude for the island nation where FTX was headquartered.
"We are deeply grateful for what The Bahamas has done for us, and deeply committed to it," Bankman-Fried wrote in a letter at the time to the Bahamas attorney general."We are also deeply sorry about this mess." Bankman-Fried and FTX co-founder Gary Wang were also said to take control of $546 million of Robinhood stock last year, which prosecutors said was illegally purchased with funds from Alameda. The purchase was an attempt to conceal the
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