FTX Founder Sam Bankman-Fried Arrested In The Bahamas After U.S. Government Files Criminal Charges
Dec. 12 2022, Published 7:28 p.m. ET
FTX founder Sam Bankman-Fried was arrested today after the United States government filed criminal charges against him, RadarOnline.com has learned.
The United States Attorney for the Southern District of New York indicted Bankman-Fried but the filing won’t be unsealed until the morning.
The move means Bankman-Fried will likely be extradited to stand trial in the U.S.
Bankman-Fried was once worth $26 billion. Earlier this year, the company started having issues and ended up in bankruptcy.
By November 2022, reports suggest that Bankman-Fried had lost the majority of his fortune.
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In addition, the Securities and Exchange Commission and Commodity Futures Trading Commission are investigating Bankman-Fried, FTX, and his other companies. It has been alleged that the one-time billionaire transferred $4 billion from FTX to Alameda Research, without disclosing this to the public.
Bankman-Fried has been hanging out in the Bahamas inside a $40 million penthouse after stepping down as CEO of FTX in November.
Earlier today, Bahamian Prime Minister Philip Davis said, “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.”
“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, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere,” the statement continued.
Bankman-Fried was scheduled to testify before the House Financial Services Committee tomorrow.