Sam Bankman-Fried, the previous CEO of bankrupt crypto change FTX, was arrested on Monday by Bahamian authorities, in response to a press release by the Workplace of the Legal professional Basic & Ministry of Authorized Affairs of the Bahamas.
Police within the Bahamas arrested SBF following a proper notification by the U.S. authorities that it had filed felony prices towards the 30-year-old and certain will request his extradition, in response to the assertion.
“The Bahamas and the US have a shared curiosity in holding accountable all people related to FTX who might have betrayed the general public belief and damaged the legislation,” the assertion learn. “Whereas the US is pursuing felony prices towards SBF individually, The Bahamas will proceed its personal regulatory and felony investigations into the collapse of FTX, with the continued cooperation of its legislation enforcement and regulatory companions in the US and elsewhere.”
In a tweet on Monday night, Damian Williams, the U.S. Legal professional for the Southern District of New York, confirmed that Bahamian authorities had arrested SBF on the request of the U.S. authorities based mostly on a sealed indictment filed by the U.S. Legal professional’s workplace.
Williams mentioned he would supply extra data on Tuesday morning when the indictment is about to be unsealed.
The Workplace of the Legal professional Basic & Ministry of Authorized Affairs mentioned it could adjust to any extradition request.
Final month, FTX declared chapter and SBF stepped down as CEO following a extreme “liquidity problem.” After searching for a buyout from competing crypto exchanges, Binance, the world’s largest crypto change, appeared set to purchase the beleaguered firm. CEO Changpeng Zhao and Binance in the end backed out of the deal, citing points “past our management or skill to assist.”
Bankman-Fried has been accused of improperly accessing buyer funds at his crypto change FTX to fund dangerous bets on the buying and selling agency he based, Alameda Analysis. He was set to testify earlier than the Home Monetary Providers Committee on Tuesday.
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