FTX founder Sam Bankman-Fried, popularly known as SBF, has just been arrested in the Bahamas, and is awaiting extradition by US authorities!
FTX Founder SBF Arrested, Awaiting US Extradition!
On Monday, December 12, 2022, the Royal Bahamas Police Force arrested FTX founder, Sam Bankman-Fried who is popularly known as SBF in the cryptocurrency community.
SBF was arrested after the United States government formally notified the Bahamas government that it filed criminal charges and is likely to request his extradition.
Attorney Damian Williams for the United States Attorney’s Office for the Southern District of New York (SDNY) confirmed that the request was made by the US government based on a sealed indictment filed by the SDNY.
USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.
— US Attorney SDNY (@SDNYnews) December 12, 2022
The Attorney General of the Bahamas then ordered SBF’s arrest, to hold him in custody until a formal request for extradition comes forth. Then the Bahamas intends to process the extradition request “promptly”.
When unsealed, charges that SBF potentially face include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. SBF could potentially face a life sentence in prison.
FTX Founder SBF Arrested : Official Statement
Here is the official statement issued by the Office of the Attorney General & Ministry of Legal Affairs, of the Commonwealth of The Bahamas.
Statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC on the arrest of Sam Bankman-Fried
On 12 December 2022, the Office of the Attorney General of The Bahamas is announcing the arrest by The Royal Bahamas Police Force of Sam Bankman-Fried (“SBF”), former CEO of FTX.
BF’s arrest followed receipt of formal notification from the United States that it has filed criminal charges against BF and is likely to request his extradition.
As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek BF’s arrest and hold him in custody pursuant to our nation’s Extradition Act.
At such time as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligations with the United States.
Responding to BF’s arrest, Prime Minister Davis stated, “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 BF 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.
December 12, 2022
Office of The Attorney General & Ministry of Legal Affairs
Commonwealth of The Bahamas
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