Sam Bankman-Fried Arrested in the Bahamas

Sam Bankman-Fried Arrested in the Bahamas

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Jonathan
Jonathan

An editor at Coincrop


13 Dec 2022 | 2 min read
11,751 views

S

am Bankman-Fried, the former CEO of the FTX crypto exchange, was detained in the Bahamas just one day before he was scheduled to testify virtually before the U.S. House Financial Services Committee for its first hearing on the collapse of the company.

The surprise arrest followed receipt of formal notification from the U.S. that it filed criminal charges against Bankman-Fried and is likely to request his extradition. 

"The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law," Prime Minister Philip Davis said a statement distributed by local press. "While the United States is pursuing criminal charges against SBF individually, the Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX."

The U.S. Attorney's Office for the Southern District of New York officially acknowledged and confirmed the news. "Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time," the office said on Twitter.


Jonathan

Jonathan

An editor at Coincrop
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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.


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