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FTX founder Sam Bankman-Fried arrested

CEO of the bankrupt FTX and known for numerous scandals, Sam Bankman-Fried, has been arrested.

By Finst News
• 3 min read
FTX founder Sam Bankman-Fried arrested

CEO of the bankrupt FTX and known for many scandals, Sam Bankman-Fried, has been arrested.

Sam Bankman-Fried was arrested yesterday, December 12, in the Bahamas. This comes from a View post on X from the US Attorneys for the Southern District of New York. It states: "This evening Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government." The criminal charges against Bankman-Fried include "wire fraud, conspiracy to commit wire fraud, securities fraud, conspiracy to commit securities fraud, and money laundering". This reports the New York Times, citing "a person with knowledge of the matter".

Bahamas has extradition talks with the US

According to the report, "SBF cooperated during the arrest and is being held tonight in a cell at a police station." He is expected to appear today, Tuesday, before the Magistrate Court in Nassau. When Bankman-Fried is transferred to the US, that remains to be seen. While Bahamas has an extradition treaty with the United States, the process could take weeks. Recently, there were new charges against the failed FTX founder. Read more here.

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