Sam-Bankman Fried Finally Arrested in Bahamas, to be Extradited to U.S.
Quick Summary
Ex-CEO of FTX, Sam Bankman-Fried, has been arrested in the Bahamas.
The US Attorney’s Office for the Southern District of New York has requested extradition for Bankman-Fried.
The US Attorney’s Office and the Securities and Exchange Commission (SEC) have filed criminal charges against Bankman-Fried.
The indictment is currently sealed, but is expected to be unsealed in the morning.
Royal Bahamas Police Force Arrests Sam Bankman-Fried
Sam Bankman-Fried (SBF), the former CEO of FTX, was arrested in the Bahamas on the evening of December 12th, 2022. According to a statement from the Bahamas Attorney General (AG) and Minister of Legal Affairs, Ryan Pinder, SBF was arrested following “receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.”
Statement from the Office of the Attorney General & Ministry of Legal Affairs (Source: Bahamas Press)
Director of Communication at the Office of Prime Minister Bahamas, Latrae L. Rahming, posted an image on Twitter of a statement from the Royal Bahamas Police Force on the arrest of SBF. He was arrested after 6 p.m. at his apartment complex in the Albany Resort, and is taken into custody without incident. SBF is scheduled to appear on Tuesday in Nassau’s Magistrate Court.
US Attorney’s Office Confirms Request for Sam Bankman-Fried’s Arrest
The US Attorney’s Office for the Southern District of New York confirmed the request for his arrest in a statement via Twitter. They expect to move to unseal the indictment in the morning. Until then, more information will be available soon.
USA Damian Williams: 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 SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.
— US Attorney SDNY (@SDNYnews) December 12, 2022
Sam Bankman-Fried’s Criminal Charges
According to the New York Times, the criminal charges SBF is facing included “wire fraud, securities fraud, money laundering, and several related criminal conspiracies”, which are also offences against laws of the Commonwealth of the Bahamas.
Furthermore, the Securities and Exchange Commission (SEC) had also issued a statement authorizing charges relating to SBF’s violations of their securities laws, which will be filed publicly tomorrow in the Southern District of New York.
Before the arrest, SBF was supposed to testify remotely about the FTX collapse in a hearing in front of the House Financial Services Committee on Tuesday. It is unclear whether the hearing would still take place.
The post Sam-Bankman Fried Finally Arrested in Bahamas, to be Extradited to U.S. appeared first on Boxmining.
Filed under: Bitcoin - @ December 13, 2022 3:03 am