<p>The Securities Commission of The Bahamas rejected recently appointed FTX chief John Ray's allegations that Bahamian officials worked with former CEO Sam Bankman-Fried to shelter the failed crypto exchange's assets from the U.S. bankruptcy process. </p> <p><span dir="ltr" role="presentation">The regulator issued a statement claiming Ray cited redacted email correspondence between Bankman-Fried and Bahamian officials </span><span dir="ltr" role="presentation">"to create a false impression of communications </span><span dir="ltr" role="presentation">between Mr. Bankman</span><span dir="ltr" role="presentation">-</span><span dir="ltr" role="presentation">Fried and the Commission." </span></p> <p><span dir="ltr" role="presentation">"These redactions are disturbing as Mr</span><span dir="ltr" role="presentation">. Ray is aware </span><span dir="ltr" role="presentation">that the full email reveals Mr. Bankman</span><span dir="ltr" role="presentation">-</span><span dir="ltr" role="presentation">Fried’s acknowledgment that he had 'not briefed the Securities </span><span dir="ltr" role="presentation">Commis</span><span dir="ltr" role="presentation">sion,'" the commission said. </span></p> <p>In a U.S. court filing late yesterday, attorneys representing FTX and Ray <a href="https://www.theblock.co/post/194385/ftx-bankman-fried-bahamas-authorities">imply</a> that Bahamian officials and attorneys for Bankman-Fried may be breaking U.S. law by keeping large quantities of assets outside of the Chapter 11 bankruptcy process — and that the Bahamas government and the Bahamas Securities Commission may have helped.</p> <p>The Bahamian regulator did not mince words in its response today. It claimed, among other things, that Ray "intended only to make headlines and advance questionable agendas." It also finds Ray's filings "disturbing" for allegedly intending to "wrongfully confuse" the actions of Bahamian authorities involved in the matter.</p> <p>The Securities Commission of The Bahamas also noted that it continues to investigate FTX's failure and is cooperating with law enforcement and regulators, both domestically and abroad. "<span dir="ltr" role="presentation">Persons who are found </span><span dir="ltr" role="presentation">to have engaged in misconduct will be held accountable in accordance with</span> <span dir="ltr" role="presentation">Bahamian law," it said.</span></p> <br /><span class="copyright"><p>Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.</p> <p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>