The Royal Bahamas Police arrested FTX’s founder and former CEO, Sam Bankman-Fried, on Monday night (native time) after felony costs had been filed towards him in the USA.
The US Legal professional for the Southern District of New York shared a sealed indictment with the Bahamian authorities, requesting for Bankman-Fried arrest. Now, the US authorities are anticipated to make an extradition request to get the custody of Bankman-Fried from the Bahamas police.
USA Damian Williams: Earlier this night, Bahamian authorities arrested Samuel Bankman-Fried on the request of the U.S. Authorities, based mostly on a sealed indictment filed by the SDNY. We anticipate to maneuver to unseal the indictment within the morning and can have extra to say at the moment.
— US Legal professional SDNY (@SDNYnews) December 12, 2022
“SBF’s arrest adopted receipt of formal notification from the USA that it had filed felony costs towards SBF and is prone to request his extradition,” the Bahamas Police mentioned in an announcement.
🚨Sam Bankman Fried was simply arrested within the Bahamas by the Royal Bahamas Police Drive! Faces “probably extradition.” pic.twitter.com/W4Y8vgPkY3
— Coffeezilla (@coffeebreak_YT) December 12, 2022
The costs towards Bankman-Fried introduced by the US legal professional usually are not recognized but. Nevertheless, in keeping with The New York Instances, it might embody wire fraud, securities fraud, cash laundering, and associated conspiracy costs. Bankman-Fried can also be supposedly the one individual named within the US indictment.
Regulation Enforcement Are After SBF
As soon as thought to be one of many reputed crypto entrepreneurs, Bankman-Fried’s FTX empire collapsed final month when his shady enterprise practices had been uncovered. He allegedly used buyer funds and constructed his companies with a community of illegitimate loans and leverages. FTX, Alameda Analysis, and greater than 130 different associates have now filed for chapter safety.
Forward of the arrest, Bankman-Fried was scheduled to testify just about earlier than the Home Monetary Providers Committee on Tuesday morning, addressing the collapse of FTX. The Home Committee’s Chair, Chair Maxine Waters, mentioned she was “shocked to listen to” in regards to the arrest, including: “It’s about time the method to deliver Mr. Bankman-Fried to justice has begun… Though Mr. Bankman-Fried have to be held accountable, the American public deserves to listen to immediately from Mr. Bankman-Fried in regards to the actions that’ve harmed over a million individuals, and worn out the hard-earned life financial savings of so many.”
In the meantime, the US Securities and Change Fee (SEC) is making ready to deliver separate costs towards Bankman-Fried, Enforcement Director Gurbir Grewal confirmed.
“We commend our regulation enforcement companions for working to safe the arrest of Mr. Sam Bankman-Fried within the Bahamas on federal felony costs,” Grewal mentioned. “The Securities and Change Fee has individually licensed costs regarding Mr. Bankman-Fried’s violations of our securities legal guidelines, which will probably be filed publicly tomorrow within the Southern District of New York.”
The Bahamas regulation enforcement additionally introduced civil and felony costs towards FTX. Nevertheless, particulars for these have but to be made public.
The Royal Bahamas Police arrested FTX’s founder and former CEO, Sam Bankman-Fried, on Monday night (native time) after felony costs had been filed towards him in the USA.
The US Legal professional for the Southern District of New York shared a sealed indictment with the Bahamian authorities, requesting for Bankman-Fried arrest. Now, the US authorities are anticipated to make an extradition request to get the custody of Bankman-Fried from the Bahamas police.
USA Damian Williams: Earlier this night, Bahamian authorities arrested Samuel Bankman-Fried on the request of the U.S. Authorities, based mostly on a sealed indictment filed by the SDNY. We anticipate to maneuver to unseal the indictment within the morning and can have extra to say at the moment.
— US Legal professional SDNY (@SDNYnews) December 12, 2022
“SBF’s arrest adopted receipt of formal notification from the USA that it had filed felony costs towards SBF and is prone to request his extradition,” the Bahamas Police mentioned in an announcement.
🚨Sam Bankman Fried was simply arrested within the Bahamas by the Royal Bahamas Police Drive! Faces “probably extradition.” pic.twitter.com/W4Y8vgPkY3
— Coffeezilla (@coffeebreak_YT) December 12, 2022
The costs towards Bankman-Fried introduced by the US legal professional usually are not recognized but. Nevertheless, in keeping with The New York Instances, it might embody wire fraud, securities fraud, cash laundering, and associated conspiracy costs. Bankman-Fried can also be supposedly the one individual named within the US indictment.
Regulation Enforcement Are After SBF
As soon as thought to be one of many reputed crypto entrepreneurs, Bankman-Fried’s FTX empire collapsed final month when his shady enterprise practices had been uncovered. He allegedly used buyer funds and constructed his companies with a community of illegitimate loans and leverages. FTX, Alameda Analysis, and greater than 130 different associates have now filed for chapter safety.
Forward of the arrest, Bankman-Fried was scheduled to testify just about earlier than the Home Monetary Providers Committee on Tuesday morning, addressing the collapse of FTX. The Home Committee’s Chair, Chair Maxine Waters, mentioned she was “shocked to listen to” in regards to the arrest, including: “It’s about time the method to deliver Mr. Bankman-Fried to justice has begun… Though Mr. Bankman-Fried have to be held accountable, the American public deserves to listen to immediately from Mr. Bankman-Fried in regards to the actions that’ve harmed over a million individuals, and worn out the hard-earned life financial savings of so many.”
In the meantime, the US Securities and Change Fee (SEC) is making ready to deliver separate costs towards Bankman-Fried, Enforcement Director Gurbir Grewal confirmed.
“We commend our regulation enforcement companions for working to safe the arrest of Mr. Sam Bankman-Fried within the Bahamas on federal felony costs,” Grewal mentioned. “The Securities and Change Fee has individually licensed costs regarding Mr. Bankman-Fried’s violations of our securities legal guidelines, which will probably be filed publicly tomorrow within the Southern District of New York.”
The Bahamas regulation enforcement additionally introduced civil and felony costs towards FTX. Nevertheless, particulars for these have but to be made public.
