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- A judge in the Bahamas denied Sam Bankman-Fried bail soon after he was arrested Monday on fraud prices.
- The previous FTX CEO was remanded into custody till February, according to reviews.
- US authorities charged him with quite a few counts of fraud on Tuesday.
A justice of the peace decide in the Bahamas denied FTX founder Sam Bankman-Fried bail through a listening to on Tuesday adhering to his Monday arrest on fraud expenses.
The choose explained the previous CEO and founder of the crypto trade system posed a flight risk and remanded him to custody until February.
Authorities in the Bahamas detained Bankman-Fried this week acting on a request from US officers. A US federal prison indictment unsealed on Tuesday charged Bankman-Fried with several counts, which includes wire fraud, cash laundering, and marketing campaign finance violations.
Bankman-Fried advised the courtroom he could fight extradition back to the US, in accordance to Reuters. Bahamian prosecutors experienced asked for he be denied bail if he did so.
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