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Sam Bankman-Fried Heads to Prison

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Dana Malcolm

Staff Writer

 

 

#TheBahamas, August 18, 2023 – Sam Bankman-Fried, Former Cryptocurrency Billionaire and CEO of FTX will await his October 2023 trial date in prison after having his bail revoked by a New York judge.

The revocation came after a request from prosecutors who accused Bankman Fried of witness tampering.  According to US media, the charges stemmed from the crypto king’s publication of a series of letters penned by his former coworker and lover, Caroline Ellison, to the press.

The judge found that this constituted interference with witnesses, as Ellison is scheduled to testify against him come October.  He decided that the accused would not be returning home to his parents’ Paulo Alto residence, where he had been on lockdown since his extradition from The Bahamas.

Instead, Bankman-Fried was taken into custody immediately.  “He has gone up to the line over and over again, and I am going to revoke bail,” the judge is quoted as saying by the New York Times.

Bankman-Fried was arrested in The Bahamas in late 2022 after the stunning collapse of his massive cryptocurrency empire, which cost investors and customers billions.  Subsequent investigations into FTX unraveled a den of questionable business practices prompting federal charges in the US.

He will answer to those charges at his trial, but until then, he will be housed at the Brooklyn Metropolitan Detention Centre, a prison which has reportedly come under scrutiny for cleanliness issues.

Bahamas News

Bahamas as Caribbean top 2024 Spring Destination

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Rashaed Esson

Staff Writer

#Bahamas#Tourism, February 23rd, 2024 – The Bahamas has been categorized as the most popular Caribbean destination for travel in the upcoming spring season by travel insurance company Squaremouth, in a new report. It was the only Caribbean nation to make the list for the top 10 destinations. The report is derived from travel insurance purchases made through Squaremouth.

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Bahamas News

Regional Soldiers head to Jamaica to train for pending Haiti mission

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Rashaed Esson

Staff  Writer

 

#Haiti#KenyaMultinationalForce#CARICOM, February 22nd, 2024 – About 150 Bahamian soldiers are heading to Jamaica within the next one or two weeks for a joint training with Jamaican soldiers, in preparation for the pending Kenya led multinational force mission to Haiti according to Bahamian Defense Chief Commodore, Raymond King, in reports. Soldiers and security forces from Chile and Argentina will also travel to Jamaica for the training.

King informs that Kenya and Haiti are in the process of signing off on an agreement to allow Kenya to lead the force into Haiti, following advice from Kenya’s High Court which recently deemed Kenya’s decision to deploy police officers to the gang run nation as unconstitutional. This agreement includes a formal request for assistance from Haiti, allowing Kenya to legally intervene on the ground.

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Bahamas News

Major plans for The Bahamas announced Davis

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Rashaed Esson

Staff Writer

#Bahamas#Development,February 22nd, 2024 – “Things are changing in The Bahamas,” were the words of Prime Minister Philip Davis as he outlined some of the Government’s plans to improve the nation through a decrease in the cost of living, enhanced security for Bahamians and the expansion of access to opportunities. Davis, who was presenting on February 21st, the Bahamas Mid-Year Review of the fiscal performance for the fiscal year 2023/2024, highlighted a long list of plans for the archipelago.

Here’s the full list stated in Davis’ address :

  • A new energy policy and an expansion of renewable energy, including microgrids, and an emphasis on engaging local Bahamian firms and building local professional capacity; 
  • An expansion of Bahamian ownership in our economy, including support for entrepreneurs, small and medium sized enterprises, and an expansion of affordable housing –with hundreds of families moving into new homes by this summer; 
  • A modern and award-winning specialized tourism product, with new investments across our archipelago, and major visibility and branding campaigns in New York, Florida, and the UK;
  • Progress on redeveloping downtown Nassau, long overdue;
  • New commitments to education, including a Parental Engagement Unit; more teacher training, modernizing the curriculum, classroom enhancements, improving school attendance, and using the Renaissance testing results to design individualized support for students; 
  • An expansion of technical and vocational training, including certification at the high school level;
  • An Empower Grand Bahama micro-grant programme for entrepreneurs; $1.5 billion in investments for Grand Bahama in the pipeline; the Beautiful Grand Bahama programme, in which collaboration has led to safer communities; and Collab Grand Bahama, which fosters partnerships between the government and the private sector to bring change and progress to Grand Bahama;
  • Major upgrades to our health infrastructure;
  • More support for our athletes and sports programmes;
  • We’re on track to pave 65 miles of road in New Providence alone this year;
  • Investments in NIB to improve fairness and efficiency;
  • A National School Breakfast pilot programme, which is already giving thousands of our children breakfast in their primary schools, and is ready to expand;
  • New classes, camps, lessons, and programmes at our Urban Renewal Centres;
  • A Youth Guard to strengthen our capacity during national emergencies, and give more young Bahamians a path forward;
  • A Task Force addressing unregulated shantytowns in New Providence and Abaco, with other islands to follow;
  • The selection and training of new immigration officers;
  • Saturation patrols and new investments and collaboration in crime prevention; 
  • A juvenile detention facility;
  • A cadre of officers trained to recognize and manage psychiatric issues;
  • Stronger partnerships and new patrol vessels to secure our nation’s borders; 
  • Major new investments across our Family Islands, including new airports, and road paving in Andros, Bimini, Cat Island, Abaco, Long Island; Great Harbour Cay, and Crooked Island;
  • The development of our nation’s blue carbon credits strategy; and
  • A major investment in agriculture and national food security.

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