Bahamas Bank Deltec Accused of Giving Bankman-Fried ‘Secret’ Credit to Buy Tether
- Deltec is alleged to have provided a short-term line of credit
- Court documents suggest a tighter web than previously known
Sam Bankman-Fried arrives at court in New York on Feb. 16, 2023.
Photographer: Stephanie Keith/BloombergThis article is for subscribers only.
It was one of the remaining puzzles after Sam Bankman-Fried’s conviction on fraud charges: what was the relationship between the one-time crypto billionaire, a Bahamas bank whose chairman created the cartoon Inspector Gadget, and cryptocurrency Tether?
Text messages, a declaration from Bankman-Fried’s former colleague and ex-girlfriend Caroline Ellison, and other documents published as part of a lawsuit filed against alleged enablers of his scheme suggest a tighter web of connections than previously known.