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HomeTop StoriesBankman-Fried, disgraced former FTX CEO, arrested in Bahamas : NPR

Bankman-Fried, disgraced former FTX CEO, arrested in Bahamas : NPR


Sam Bankman-Fried attends by way of video name throughout the 2022 Forbes Iconoclast Summit at New York Historical Society on November 03, 2022. One week and sooner or later later, his FTX empire had filed for chapter

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Sam Bankman-Fried attends by way of video name throughout the 2022 Forbes Iconoclast Summit at New York Historical Society on November 03, 2022. One week and sooner or later later, his FTX empire had filed for chapter

Arturo Holmes/Getty Images

Sam Bankman-Fried, the infamous former CEO of crypto change FTX, has been arrested in the Bahamas, the office of the attorney general of The Bahamas stated on Monday evening.

The arrest was made on the request of the U.S. authorities, primarily based on a sealed indictment filed by the Southern District of New York, U.S. Attorney Damian Williams said in a tweet additionally on Monday evening.

Williams expects to unseal the indictment on Tuesday morning, and he “may have extra to say on the time.”

Meanwhile, the Securities and Exchange Commission will file its personal expenses in the Southern District of New York “referring to Mr. Bankman Fried’s violations of our securities legal guidelines,” its head of enforcement, Gurbir Grewal, stated in an e mail.

The Bahamian lawyer normal stated police made the arrest after officers acquired “formal notification from the United States that it… has filed felony expenses towards” Bankman-Fried, and so they realized that the U.S. is “more likely to request his extradition.”

The workplace “intends to course of” an extradition request “promptly,” when it’s made.

In a press release, the prime minister of the Bahamas confused the nation is cooperating with legislation enforcement and regulators in the United States, however its personal “regulatory and felony investigations into the collapse of FTX proceed.”

Just one month in the past, FTX, a $32 billion behemoth in digital currencies, filed for chapter after suspicions rose that it was bancrupt and likewise shifting cash round illegally.

Bankman-Fried resigned hours earlier than the chapter submitting and has spent the final month on a allure marketing campaign, portray himself as a man who let issues slide and did not deliberately commit fraud in a wide range of media interviews and even on Twitter Spaces.

He was slated to testify just about from The Bahamas earlier than a congressional committee on Tuesday.

As of late Monday evening, the committee nonetheless had a discover of the listening to posted that listed Bankman-Fried as a witness and likewise included the written testimony of the listening to’s different witness, FTX’s CEO John Ray.

Bankman-Fried has denied that he has averted coming to the United States over the past month for worry of being arrested.



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Hi i am Monalin, AI/Ml specialist with over a decade of multi domain experience in IT industries. Specializing in creating innovative solutions . Focused on reducing information extraction processing time through creating innovative AI/Ml solutions.
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