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The Bahamas Announced the Arrest of the SBF!

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The Bahamas Announced the Arrest of the SBF! According to a press release, FTX founder Sam Bankman-Fried was arrested by the Royal Bahamas Police Force. The statement said the arrest came after Bankman-Fried was charged with crimes in the United States and that the Bahamas could expect an urgent request to extradite Bankman-Fried from the United States. The Bahamas will handle formal requests

This statement issued by Attorney General Ryan Pinder, said that due to the notice obtained and the information contained therein, it is appropriate for the Attorney General to pursue the arrest of SBF and hold him in prison in accordance with our country’s extradition laws. available. .

The Bahamas intends to process any request for removal as soon as it is made, in accordance with Bahamian law and its treaty obligations with the United States. Despite the secrecy of the charges, the US Attorney’s Office for the Southern District of New York tweeted announcing that Bankman-Fried had been charged.

Possible charges against SBF

The New York Times reports that the possible charges include wire fraud, bank fraud, money laundering and related conspiracy. Gurbir Grewal, chief litigator at the US Securities and Exchange Commission, said the company also plans to file charges.

A Bahamas statement from Prime Minister Philip Davis said that in addition to the United States criminal investigation, the Bahamas will continue to look into the FTX failure. On Tuesday, Bankman-Fried was scheduled to testify digitally before the House Financial Services Committee about the stock market crash. Committee Chair Maxine Waters expressed surprise when she learned that the FTX developer was arrested at the request of the US Attorney’s office in a statement.

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