FTX founder Sam Bankman-Fried attempted to stall bankruptcy proceedings in the U.S. in November in order to transfer assets from his crypto exchange to foreign regulators

FTX founder Sam Bankman-Fried attempted to stall bankruptcy proceedings in the U.S. in November in order to transfer assets from his crypto exchange to foreign regulators, per DOJ.

“Because FTX’s and Alameda’s remaining assets may include stolen customer funds, fraud proceeds, or assets that are otherwise recoverable by FTX’s creditors, there is no justifiable basis for the defendant to access these assets,” prosecutors said.

Prosecutors said Mr. Bankman-Fried allowed Bahamian customers to withdraw millions of dollars after FTX froze customer accounts.

“We are deeply grateful for what The Bahamas has done for us, and deeply committed to it,” Mr. Bankman-Fried wrote in the letter, according to prosecutors. “We are also deeply sorry about this mess.”