The Royal Bahamas Police arrested FTX’s founder and former CEO, Sam Bankman-Fried, on Monday night (native time) after felony expenses have been filed in opposition to him in america.
The US Lawyer 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, primarily based on a sealed indictment filed by the SDNY. We count on to maneuver to unseal the indictment within the morning and may have extra to say at the moment.
— US Lawyer SDNY (@SDNYnews) December 12, 2022
“SBF’s arrest adopted receipt of formal notification from america that it had filed felony expenses in opposition to SBF and is prone to request his extradition,” the Bahamas Police stated in a press release.
🚨Sam Bankman Fried was simply arrested within the Bahamas by the Royal Bahamas Police Pressure! Faces “possible extradition.” pic.twitter.com/W4Y8vgPkY3
— Coffeezilla (@coffeebreak_YT) December 12, 2022
The fees in opposition to Bankman-Fried introduced by the US lawyer should not recognized but. Nevertheless, in response to The New York Occasions, it may embody wire fraud, securities fraud, cash laundering, and associated conspiracy expenses. Bankman-Fried can be supposedly the one particular person named within the US indictment.
Legislation Enforcement Are After SBF
As soon as considered one of many reputed crypto entrepreneurs, Bankman-Fried’s FTX empire collapsed final month when his shady enterprise practices have 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, stated she was “shocked to listen to” in regards to the arrest, including: “It’s about time the method to convey Mr. Bankman-Fried to justice has begun… Though Mr. Bankman-Fried should 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 getting ready to convey separate expenses in opposition to 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 expenses,” Grewal stated. “The Securities and Change Fee has individually approved expenses regarding Mr. Bankman-Fried’s violations of our securities legal guidelines, which can be filed publicly tomorrow within the Southern District of New York.”
The Bahamas regulation enforcement additionally introduced civil and felony expenses in opposition to 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 expenses have been filed in opposition to him in america.
The US Lawyer 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, primarily based on a sealed indictment filed by the SDNY. We count on to maneuver to unseal the indictment within the morning and may have extra to say at the moment.
— US Lawyer SDNY (@SDNYnews) December 12, 2022
“SBF’s arrest adopted receipt of formal notification from america that it had filed felony expenses in opposition to SBF and is prone to request his extradition,” the Bahamas Police stated in a press release.
🚨Sam Bankman Fried was simply arrested within the Bahamas by the Royal Bahamas Police Pressure! Faces “possible extradition.” pic.twitter.com/W4Y8vgPkY3
— Coffeezilla (@coffeebreak_YT) December 12, 2022
The fees in opposition to Bankman-Fried introduced by the US lawyer should not recognized but. Nevertheless, in response to The New York Occasions, it may embody wire fraud, securities fraud, cash laundering, and associated conspiracy expenses. Bankman-Fried can be supposedly the one particular person named within the US indictment.
Legislation Enforcement Are After SBF
As soon as considered one of many reputed crypto entrepreneurs, Bankman-Fried’s FTX empire collapsed final month when his shady enterprise practices have 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, stated she was “shocked to listen to” in regards to the arrest, including: “It’s about time the method to convey Mr. Bankman-Fried to justice has begun… Though Mr. Bankman-Fried should 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 getting ready to convey separate expenses in opposition to 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 expenses,” Grewal stated. “The Securities and Change Fee has individually approved expenses regarding Mr. Bankman-Fried’s violations of our securities legal guidelines, which can be filed publicly tomorrow within the Southern District of New York.”
The Bahamas regulation enforcement additionally introduced civil and felony expenses in opposition to FTX. Nevertheless, particulars for these have but to be made public.
