FTX founder Sam Bankman-Fried arrested in Bahamas, officials say – National | 24CA News
The Bahamas police have arrested former FTX CEO Sam Bankman-Fried, the nation’s lawyer basic stated on Monday, including that The Bahamas has obtained formal notification from the United States of prison expenses in opposition to him.
A spokesman for the U.S. Attorney’s workplace in Manhattan confirmed Bankman-Fried had been arrested in The Bahamas however declined to touch upon what the costs have been.
“As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act,” the workplace of The Bahamas Attorney General Ryan Pinder stated.
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FTX founder Bankman-Fried says he didn’t ‘try to commit fraud,’ knowingly misuse funds
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A lawyer for Bankman-Fried couldn’t instantly be reached for remark.
In a sequence of interviews and public appearances in late November and December, Bankman-Fried acknowledged danger administration failures however sought to distance himself from accusations of fraud, saying he by no means knowingly commingled buyer funds on FTX with funds at his proprietary buying and selling agency, Alameda Research.
“I didn’t ever try to commit fraud,” Bankman-Fried stated in a Nov. 30 interview on the New York Times’ Dealbook Summit, including he doesn’t personally assume he has any prison legal responsibility.
FTX, which had been among the many world’s largest cryptocurrency exchanges, filed for chapter safety on Nov. 11 in one of many highest-profile crypto blowups after merchants pulled $6 billion from the platform in three days and rival alternate Binance deserted a rescue deal.
The liquidity crunch got here after Bankman-Fried secretly moved $10 billion of FTX buyer funds to Alameda, Reuters reported, citing two individuals acquainted with the matter. At least $1 billion in buyer funds had vanished, the individuals stated.
Bankman-Fried resigned as FTX’s chief govt officer the identical day because the chapter submitting.
(Reporting by Jasper Ward in Washington and Brian Ellsworth in Miami; Editing by Lincoln Feast)
