Sam Bankman-Fried has been arrested by authorities within the Bahamas on the request of the U.S. authorities, only a day earlier than the disgraced former FTX CEO was as a result of testify earlier than Congress.
Bankman-Fried was arrested by the Royal Bahamas Police Pressure following a proper notification from america authorities that it has filed prison costs towards him, in accordance with a Dec. 12 assertion from the Bahamas Lawyer Common (AG) and Minister of Authorized Affairs, Ryan Pinder.
Citing an individual with information of the matter, The New York Instances reported on Dec. 12 that the costs towards Bankman-Fried embody wire and securities fraud, conspiracy to commit wire and securities fraud and cash laundering,
The U.S. will possible request the extradition of Bankman-Fried, with Pinder stating that the Bahamas will “promptly” course of any extradition request.
Bahamian Prime Minister Philip Davis mentioned in a press release that each nations have “a shared curiosity in holding accountable all people related to FTX who could have betrayed the general public belief and damaged the legislation.
A Dec. 12 tweet from the U.S. Lawyer’s Workplace for the Southern District of New York mentioned authorities within the Bahamas arrested Bankman-Fried based mostly on a sealed indictment it filed that it plans to unseal “within the morning.”
USA Damian Williams: Earlier this night, Bahamian authorities arrested Samuel Bankman-Fried on the request of the U.S. Authorities, based mostly on a sealed indictment filed by the SDNY. We count on to maneuver to unseal the indictment within the morning and can have extra to say at the moment.
— US Lawyer SDNY (@SDNYnews) December 12, 2022
Bloomberg reported on Dec. 10 that prosecutors from New York, FBI brokers and regulators met with FTX’s attorneys to debate the documentation that investigators wish to receive.
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The U.S. Division of Justice (DOJ) was “intently” analyzing whether or not FTX improperly transferred a whole bunch of tens of millions across the identical time as the corporate declared chapter on Nov. 11.
Bahamian authorities have been equally endeavor their very own “lively and ongoing” investigation into FTX as introduced on Nov. 27 by Pinder that concerned the nation’s Securities Fee, the Monetary Intelligence Unit and the police’s monetary crimes unit.
Bankman-Fried’s arrest comes a day earlier than he was anticipated to look remotely to testify earlier than the Home Committee on Monetary Providers in a listening to investigating the collapse of the alternate.