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Sam Bankman-Fried (SBF) Arrested in Bahamas By Request of US Authorities

by BSC News

December 13, 2022

chain

SBF faces criminal investigation for one of the largest financial frauds in history.

Bahamas Authorities Arrest SBF

Infamous crypto personality Sam Bankman-Fried has been arrested Monday, December 12, evening local time in the Bahamas.

SBF faces criminal investigation by U.S. and Bahamian authorities following the collapse of FTX last month. The American citizen likely faces extradition back to the USA. SBF had teased the idea of attending a Congression hearing on Tuesday, Dec. 13 to which he was invited.

The island nation's Attorney General confirmed the FTX founder and former CEOโ€™s arrest after American authorities filed criminal charges against him.

Attorney Damian Williams for the United States Attorneyโ€™s Office for the Southern District of New York confirmed the request and SBFโ€™s arrest in a public statement on Monday as well.

SBFโ€™s potential charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. He hopefully will be face life in prison.

The SDNY Attorneyโ€™s Office expects to unseal the indictment documents around 10:00EM EST Tuesday morning - 15:00 UTC.

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