NEW YORK — The former CEO of failed crypto firm FTX Sam Bankman-Fried has been arrested in the Bahamas at the request of the U.S. government, the U.S. attorney’s office in New York said Monday.
Bankman-Fried is under criminal investigation by U.S. and Bahamian authorities following the collapse last month of FTX. The firm filed for bankruptcy on Nov. 11, when it ran out of money after the cryptocurrency equivalent of a bank run. “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 United States Attorney’s Office for the Southern District of New York,” U.S. Attorney Damian Williams said in a statement. “We expect to move to unseal the indictment in the morning and will have more to say at that time.”
Bankman-Fried’s arrest comes just a day before he was due to testify in front of the House Financial Services Committee, along with the company’s current CEO, John Ray III. Bankman-Fried said recently that he did not “knowingly” misuse customers’ funds, and said he believes his millions of angry customers will eventually be made whole.
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Former FTX CEO Bankman-Fried arrested in Bahamas, U.S. to unveil charges(Reuters) -Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the Bahamas-based cryptocurrency exchange to declare bankruptcy, was arrested on Monday in The Bahamas after being criminally charged by U.S. prosecutors. The attorney general's office for The Bahamas said it proceeded with the arrest after receiving formal confirmation of charges against Bankman-Fried, adding that it expects he will be extradited to the United States. 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. About time!!!! Yahoo I bet you hate this don’t you U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes and campaign finance violations, alleging he played a central role in the collapse of FTX and hid its problems...
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