Former FTX officials trying to flee to Dubai: Report

Reportedly Sam Bankman-Fried (SBF) and other officials of the Alameda Research are trying to go to a safe place, where they can save themselves from enforcement investigation & actions.

FTX, FTXus & Alameda Research are now the latest crypto projects which are now under the frozen zone & they are no more able to provide services, thanks to the mismanagement of the user’s funds by the backed team under the leadership of Sam Bankman-Fried (SBF). 

On 13 November, the Popular crypto news website Cointelegraph reported that a source, who is familiar with the FTX & its official ongoing case, said that FTX former CEO Sam Bankman-Fried, co-founder Gary Wang and director of engineering Nishad Singh, Alameda Research CEO Caroline Ellison were planning to flee to Dubai because that place will be like heaven for them in this critical situation. 

Source confirmed that it will not be easy for these people to get out because right now they are under the supervision of Bahamian authorities. 

“Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas. Which means it will be hard for them to leave,” said the source, who asked to remain anonymous

The anonymous source also said that “I just got word that they were trying to get a way to get to Dubai which doesn’t have an extradition treaty.”

According to this anonymous source, Alameda Research CEO is currently in Hong Kong & it will be easy for her to flee to Dubai. A similar kind of information came to light from the Twitter Space by The Crypto Roundtable Show host Mario Nawfal. 

A couple of days ago, WSJ reported that the U.S. The Department of Justice and the Securities and Exchange Commission are investigating the FTX exchange over its mismanagement of users’ funds. 

Read also: FTX US General Counsel confirms funds transfers to cold storage against a hack attack