Authorities arrested FTX founder Sam Bankman-Fried in the Bahamas after U.S. prosecutors in the Southern District of New York filed charges.
“On 12 December 2022, the Office of the Attorney General of the Bahamas is announcing the arrest by The Royal Bahamas Police Force of Sam Bankman-Fried (“SBF”), former CEO of FTX,” stated the Attorney General of The Bahamas Sen. Ryan Pinder KC. “SBF’S arrest followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.”
Prime Minister Philip Davis said: “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.”
Bankman-Fried fronted FTX until the crypto-company imploded in November. The crypto exchange filed for bankruptcy and up to $2 billion in client funds may have disappeared.
Bankman-Fried was also a huge Democrat donor, right behind George Soros:
Bankman-Fried – the second biggest donor to Democrats behind George Soros – has all but admitted that he squandered billions of dollars of other people’s money carelessly, writing “I fucked up” on Twitter in a mea culpa about two weeks ago, days after a run on his exchange exposed it to be a shell of what many perceived it to be.Institutional investors in FTX have written their stakes in the firm to $0…Now widely accepted by the public and most in the financial industry to have committed a massive $30 billion fraud that has spawned innumerable comparisons to Madoff and Enron, it’s unclear to me what more of an admission of guilt is needed to extradite Bankman-Fried to the United States and place him under arrest.
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