BREAKING: Sam Bankman-Fried Arrested In Bahamas

On December 12, 2022, the Office of the Attorney General of The Bahamas announces the arrest by The Royal Bahamas Police Force of Sam Bankman-Fried (SBF), former CEO of FTX.

According to a statement from the Office of the Attorney General & Ministry of Legal Affairs that was released to the local press, Sam Bankman-Fried was arrested in the Bahamas.

The arrest came after receiving official notice from the US that it had charged Bankman-Fried with a crime and would probably ask for his extradition.

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.

Prime Minister Philip Davis said in the statement

After then, the news was confirmed by the U.S. Attorney’s Office for the Southern District of New York. 

The arrest comes 31 days after FTX declared bankruptcy in the aftermath of a dramatic and spectacular collapse that shocked the crypto industry.

Interestingly, Mr. Bankman-Fried had given numerous media interviews after FTX’s bankruptcy as an executive under criminal investigation. He claimed that his company collapsed as a result of “huge management failures” and insisted that he “did not ever try to commit fraud” or intentionally use FTX clients’ money to finance other investments, and blamed his company’s collapse on bad accounting.

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