Former FTX CEO Bankman-Fried arrested in Bahamas as U.S. to press criminal charges

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The U.S. Attorney\u0027s office in Manhattan confirmed Bankman\u002DFried had been arrested in The Bahamas but declined to comment on the charges

A spokesman for the U.S. Attorney’s office in Manhattan confirmed Bankman-Fried had been arrested in The Bahamas but declined to comment on what the charges were.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.

“I didn’t ever try to commit fraud,” Bankman-Fried said in a Nov. 30 interview at the New York Times’ Dealbook Summit, adding he doesn’t personally think he has any criminal liability. FTX, which had been among the world’s largest cryptocurrency exchanges, filed for bankruptcy protection on Nov. 11 in one of the highest-profile crypto blowups after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal.

The liquidity crunch came after Bankman-Fried secretly moved $10 billion of FTX customer funds to Alameda, Reuters reported, citing two people familiar with the matter. At least $1 billion in customer funds had vanished, the people said.Share this article in your social network

 

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