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Brown Rudnick is providing PR and communications services to the Government of The Bahamas in connection with the high-profile collapse of FTX Digital Markets, a cryptocurrency exchange.
Sam Bankman-Fried, founder of FTX, had been running the company from a ritzy gated community on New Providence Island near the Bahamian capital of Nassau.
The US charged the 30-year-old with fraud, money laundering, violations of campaign finance laws and of diverting billions in customer funds to a trading platform that he controlled. He was arrested and extradited to the US on Dec. 21.
Despite his downfall, Bankman-Fried still has many fans in the Bahamas who appreciate the millions that he donated to local charities, church and government entities, including the local police.
Brown Rudnick had been providing legal services to the Bahamas since March 2022 but was “reengaged” on Dec. 6 following the FTX meltdown and the ensuing attention that it received from the US government and the media.
It may communicate with reporters and American government officials about the activities of members of the Bahamian government regarding FTX.
Brown Rudnick’s team includes Stephen Best, chair of the white collar defense, investigations and compliance group; Clara Krivoy, co-chair of the digital & commerce unit; and William Baldiga, partner in the bankruptcy & corporate restructuring practice.
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