Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, December 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
The Securities Commission of The Bahamas (SCB) has hit back at the new chief executive officer of the collapsed crypto-currency exchange FTX accusing him of attempting to disrupt their investigation.
In a statement on Tuesday, the SCB accused John Ray III of making “misstatements… which do not appear to be concerned with facts but rather, appear intended only to make headlines and advance questionable agendas.”
The agency said Ray’s Delaware court filing on Monday of emails between Bahamian officials and the former FTX boss Sam Bankman-Fried were designed to create a false impression” that he spoke with the commission.
“Mr Ray has referred to redacted email correspondence by and between Mr Bankman-Fried and Bahamian officials. Those redactions were designed to create a false impression of communications between Mr Bankman-Fried and the Commission. These redactions are disturbing as Mr Ray is aware that the full email reveals Mr Bankman-Fried’s acknowledgement that he had ‘not briefed the Securities Commission’,” the SCB wrote.
“Mr Ray’s filings and communications continue to wrongfully confuse as one, the actions of the Government of The Bahamas, the Securities Commission of The Bahamas and the Court Appointed/Court Supervised Joint Provisional Liquidators.”
They lamented that Ray has not reached out to them to discuss concerns nor has he responded to their attempts to contact him.
SCB said it will continue its investigation to determine if any locals laws were broken and will hold wrong dowers accountable. The commission also said that it intends to ensure that FTX’s clients and creditors are paid what they are owed in accordance with the Supreme Court’s ruling.
The commission said it is therefore requesting that Ray’s representatives not “obstruct” their investigation.
