NEW YORK (AP) — The former CEO of unsuccessful cryptocurrency company FTX, Sam Bankman-Fried, has been arrested in the Bahamas at the request of the U.S. governing administration, the U.S. and Bahamian authorities explained Monday.
Bankman-Fried experienced been below felony investigation by U.S. and Bahamian authorities next the collapse past thirty day period of FTX. The business submitted for individual bankruptcy on Nov. 11, when it ran out of income following the cryptocurrency equal of a bank operate.
“Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the ask for of the U.S. Government, based on a sealed indictment submitted by the United States Attorney’s Business for the Southern District of New York,” U.S. Legal professional Damian Williams stated in a statement. “We count on to transfer to unseal the indictment in the early morning and will have far more to say at that time.”
Bankman-Fried’s arrest arrives just a working day just before he was due to testify in front of the Dwelling Monetary Services Committee, alongside with the company’s present CEO, John Ray III.
Bahamian Lawyer General Ryan Pinder mentioned the Bahamas would “promptly” extradite Bankman-Fried to the U.S. as soon as the indictment is unsealed and U.S. authorities make a formal ask for. In the meantime Bahamian authorities approach to keep on their individual investigation into Bankman-Fried.
“The Bahamas and the United States have a shared interest in keeping accountable all people linked with FTX who may possibly have betrayed the public trust and broken the law,” mentioned Bahamian Prime Minister Phillip Davis, in a assertion.
Bankman-Fried claimed just lately that he did not “knowingly” misuse customers’ resources, and mentioned he believes his millions of angry clients will finally be built total.
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