Sam Bankman-Fried arrested by Bahamian Authorities

The embattled former CEO of cryptocurrency giant FTX Sam Bankman-Fried has been arrested by authorities in the Bahamas as they were notified that U.S. Department of Justice has filed criminal charges against him and are expected to request extradition.

Sam Bankman-Fried arrested by Bahamian Authorities

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

Bahamian authorities have arrested Sam Bankman-Fried after U.S. law enforcement filed charges against the former crypto billionaire.

Bahamas Attorney General Ryan Pinder said that the United States had filed unspecified criminal charges against Bankman-Fried and was "likely to request his extradition."

In a statement, Bahamian 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 was expected to testify before the House Financial Services Committee tomorrow. His arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month.

Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, has been arrested in the Bahamas, the Bahamas Attorney General's Office announced Monday.

The 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," the office said.

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