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Breaking News: Sam Bankman-fried Under Arrest In The Bahamas

After much back and forth and uncertainty about the arrest of the former billionaire and founder of the now-bankrupt FTX exchange Sam Bankman-fried, his arrest was confirmed on the 12th of December. Sen. Ryan Pinder KC, the attorney general of the Bahamas revealed this in a statement.

The Bahamas To Extradite Bankman-fried To The U.S.

According to the statement provided by authorities in the Bahamas, Sam Bankman-fried is now in their custody after they received notification from the U.S. about the criminal charges filed against him and the Bahamas acted promptly according to the country’s extradition act and treaty with the U.S.

Also noted in the statement is that both countries will run their separate investigations into the crash of the crypto exchange, according to prime minister Phillip Davis, The United States and The Bahamas will make sure to hold everyone involved with FTX who has broken public trust and the law accountable for their crimes.

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The arrest has been confirmed by the U.S. authorities, according to the U.S. Attorney’s Office for the Southern District of New York, the arrest was made earlier in the evening of the 12th of December at the United States’ request per a sealed indictment presented by SDNY. The office assures that the charge will be unsealed by morning so the case can move on.

FTX filed for bankruptcy weeks earlier after an almost $8 billion hole was discovered in the company with allegations heaped on the ex-CEO about embezzlement of customers’ funds.

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Jimmy Kelly

Jimmy is one of the news journalists for Tokenhell. He is a big crypto enthusiast and bought his first crypto token way back in 2015! Jimmy publishes updates about crypto tokens, events, price analysis and regulation among many other subjects.

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