> Christina Rolle, the regulator’s executive director, asserted in a November 10, 2022, affidavit that the digital assets regulator “cannot condone” the now-jailed FTX chief’s plan to prioritise Bahamian withdrawals over all other clients as set out in his November 9, 2022, e-mail to attorney general Ryan Pinder KC.

What Chritina Rolle should instead be saying is that all regulatory and law enforcement agencies of The Bahamas, as well as the liquidators appointed by the Bahamas Supreme Court, will be doing their utmost to ensure all persons domiciled or resident in The Bahamas who derived financial benefit from funds/securities stolen from FTX customers are made to return the equivalent in value of such funds/assets to the estate of FTX under the control of John Ray III as the new FTX CEO in the Delaware bankruptcy proceedings.

Why not the democrats first? Our gov't practically promoted his exchange luring the investments. Here's this local company that locals new to investing are encouraged to support , then in months are screwed. Inghram held a presentation one time to get Bahamians to invest in a West End project, nothing materialized.

They should return it. You invested at your own risk. If they got paid, everyone should get paid. Krooked, just krooked....oh, welcome to the Bahamas, a nation for sale.

Shady, Shady business. So SBF emailed AG and gave him a heads up before only opening platform for 1500 Bahamian accounts to withdraw $100 mill? Who are these people? Seems like a conspiracy, how and who coordinated 1500 people to withdraw funds in barely a day? These names should be published on front page of newspaper and people need to be prosecuted.

I agree. I would like to see these names as well. My guess is there is not 1500 persons but a much smaller group of beneficial owners. I mean wasn't Deltec just under the spotlight for Russians assets?( a few Paper Bahamians exited the country quick when the war began) What better way to move those funds than through a cryto exchange. Shady is correct.....

No telling where the investor's $10B originated to begin with.

Withdrawing in a day is how FTX tanked. Why not go look up the app dear. All things digital are same day.

The US liquidator in Delaware needs to get in line. The principal lived in the Bahamas with a Bahamas registered business. Bahamian investors needs to be made whole first. Then the US can have him and whatever is left over.

That's just not the way it works under international law when it comes to tracing and recovering stolen funds. securities, and other property/assets. Just ask the Russian oligarchs who had their yachts confiscated, bank/brokergae accounts frozen, homes around the world seized, and so on.

That's right! Put the final nail in the coffin of Foreign Direct Investment in the Bahamas. Have you any idea what the rest of the World thinks of this? No one in his/her right mind would put assets here or loan money here. This makes Bahamar look like a lost wallet dispute.

Suicide. And Chester and John Pinder sign $800,000,000 MoU with thousands of jobs for dead South Abaco. Unbelievable if they believe anyone would invest a penny - one more of Coopers list of failed pipe dream hot air projects 👎👎👎

I'm sure some money circulated prior to the signing of the MoU.

Are you serious??? have literally no understanding of business. **depositing money in an account at FTX does not make you an "investor".** That word has a very specific meaning, in that you have **ownership** rights, and some ownership rights say if this company tanks youre first in line to get your **equity** investment back. Bahamians who put in a few thousand into for the purposes of trading are last in line. I mentioned this from the minute Brave Davis hinted in the HOA that his first priority was protecting bahamian clients. its not legal

Unfortunately in business its typically the people who dont need the money who get paid first because they're the ones who invested the most and bought **share rights** that say they get paid first.

"*Christina Rolle, the regulator’s executive director, asserted in a November 10, 2022, affidavit that the digital assets regulator “cannot condone” the now-jailed FTX chief’s plan to prioritise Bahamian withdrawals over all other clients as set out in his November 9, 2022, e-mail to attorney general Ryan Pinder KC*"

After multiple email exchanges nobody responded to Sam to tell him to cease and desist from what would be an illegal payout? And then file an affidavit with someone else to say you dont agree? This makes NO sense. The robber tell the police I going to rob the bank if you dont tell me you object. the police go to the judge to say I dont agree with robbers robbing banks.Then the robber rob the bank just like they promised??

And then the police wait over a month to arrest the robber!

And they didn't even arrest him for robbing the bank. They only arrested him because America accused him of something. We haven't accused him of anything yet. In our eyes he's still not a criminal. CRAZY!!!

Yeh well the US SEC was warned of the potential collapse as well.https://youtu.be/YLPH1SRlNlY

Want to discuss that LgBt article. Open it up for discussion. It is a democratic society not run by democrats.

Conspiracy theories? Hardly.
Despite Hartnell’ editorializing about disinformation, who needs to embellish the implosion of the Davis’ government’s DARE Act and/or the myth of Bahamas’ business regulations”?
It was pointed out in a previous editorial that there was “NO EVIDENCE” that Pinder, the SBC, etc etc condoned or permitted an unregulated 25 hour period wherein $100M was looted.

More importantly he fails to point out is there is NO EVIDENCE that Pinder, Rolle and Maynard-Gibson, etc etc. lifted a finger, sounded an alarm, stopped or answered Bankman-Fried’s statement ‘If I do not hear from you I intend to move forward with distributing monies.

No wonder Ray is aghast, frothing at the mouth that these ‘regulators’, these self proclaimed guardians of the Bahamas’ judicial and financial reputation would have the wherewithal to further stymie justice for investors.

… and Paton sitting on the Board of Securities Commission appointing his fellow Partner at Law Firm Lennox Paton as Liquidator of FTX … is the final straw😱

The Americans will love this as confirmes their opinion of The Bahamas….when will the country become a republic and grow bananas❓🤣

The conflict of interest you refer to involving Brian Simms and his law firm partner Michael Paton is only the tip of the iceberg when it comes to several very significant conflicts of interest that John Ray III is well aware of. As the FTX onion gets peeled, PwC's name is coming up in a number of unexpected places that are giving pause for concern.

**How is it stolen if they're refunded their purchase????**
In any bank run, the first in line gets theirs out the ATM and the late crowd has to go to court.

Well if it's a risk to prioritize compensation for local damages, now no FDI project or registered corporation is going to list on BSIX which should be a requirement in our Community Benefits Agreements. FTX was probably the first. Hopefully the international inclusion through Alameda wasn't what got him screwed up in the first place trying to accommodate.

Yinna rightfully complained so much that Bahamians couldn't invest like Bahamians can't gamble, now for the few who did on this particular exchange, everyone assumes they're not average Joe's trying to earn. (And the reason you can't gamble is bc the house always wins )

Still waiting on that BPC oil listing ay.

If $100B Hutchinson Whampoa goes down and they were on BSIX,

http://tribune242.com/users/photos/2022…

This isnt how liquidation works. he cant pick and chose which clients to give money to

**also investing in FTX was a GINORMOUSLY RISKY venture. Unless you had 50 million on an account in addition to what you invested, you should not have been investing. FTX was NOT for "regular Joes". This was another MAJOR FAILING of the SCB. There is NOTHING, literally NOTHING that promises you get your money back when you put it on a trading platform**

I hope ArawakX succeeds because Im 2000% positive none of the "regular" investors understand they could lose everything they put in. They just riding on PR and marketinh

A live clone will be better than static.

It's not a car, sites have archives. Ray acts like Sam can fix something. Only if Ray had manipulated anything to frame Sam , would he be so adverse to a *live* clone and the backups since November. Sam must know what's being referred to, not surprised in testimony on charges 24hrs before. The accounting numbers have to be before his eyes.

Why is a $3T market not a federally insured institution when official brand name hedge fund financial services offer investments in crypto?? O yeh. They didn't have regs, we did.

CLICO

Btw, $100M doesn't nearly cover $10B. wtf

And I think if you didn't lose your initial investment, you should be not be prioritized.

Huh? What you think is irrelevant. Theres a little thing called business law that sets out who gets paid first and rich people pay dearly to be the first to get paid. It was HIGHLY unusual what happened here and VERY suspect that after days of communication nobody, inclusive of the highest legal officer in the land, told Sam he couldnt do what he said he'd do

There wasn't risk insurance.

In business, we call this "opportunity costs".
All of our efforts, attention and money goes into sorry episodes like this.
With all of our serious, serious problems in this country, this is what we focus on.
We are a tabloid country, unable to move forward.
Superstition, ignorance and sordid politics rule the day.
Does any trend in our country look good right now?
Any?
Does anyone believe that the pirates were ever expelled?