FTX founder Sam Bankman-Fried arrested in Bahamas, US expected to request extradition, authorities say
Category: News & Politics
Via: vic-eldred • 2 years ago • 9 commentsBy: Bradford Betz (Fox Business)
S E E D E D C O N T E N T
Sam Bankman-Fried, disgraced founder of the cryptocurrency exchange FTX was arrested in the Bahamas Monday, authorities said.
Bahamian authorities said Bankman-Fried's arrest came after the United States filed charges against him and was likely to request extradition.
"The Bahamas and the United States in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law," Prime Minister Philip Davis said in a statement.
"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."
"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," said the Office of the Attorney General and Ministry of Legal Affairs in a statement.
Bankman-Fried was scheduled to testify before a congressional committee on Tuesday - his first under oath since FTX filed for bankruptcy last month.
The cryptocurrency exchange filed for bankruptcy on Nov. 11 when the firm ran out of money after the cryptocurrency equivalent of a bank run.
The Associated Press contributed to this report.
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The man who siphoned off millions to save his bottom line, finance sex & drugs and help democrats win the Senate is now under arrest.
Good. about time.
Although one has to wonder why they arrested him 24 hours before he was going to speak under oath to Congress.
Why in the world wouldn't you let him speak under oath before arresting him?
Silencing others is what the Admin is good at.
The same reason the DA/DOJ will not let San Francisco PD release the body cam footage of Paul Pelosi opening the door for police; and then walking back towards his assailant; and subsequent assault.
If it goes against the Democrat narrative it will be withheld and silenced.
Only Democrats version of events are what matters.
Willing to bet Fried never goes to trial. The DOJ will offer him a very nice plea deal in return for his "cooperation" (meaning complete silence, except for what Democrats coach him to say). The court records will be sealed; and Fried will disappear to a nice cozy minimum security club fed for 5 to 10 years.
The last thing Democrats want is Republicans to question Fried. People might start to answer how this mighty mental midget pulled all this off. Then they will want to know which Democrats in power were in on this? Since the vast majority of money from FTX/Fried went to their campaign coffers.
The less information out of Fried the public has the better. Right now Democrats and their media sycophants are trying to make Fried out to be the victim.
It is very interesting that the DOJ would file charges the day before he would be on the record under questioning by Republican members of congress.
Fried is fried.
"The arrest was made based on a sealed indictment filed by the U.S. attorney’s office for the Southern District of New York, the U.S. attorney said. The charges in the indictment include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, according to a person familiar with the matter.
“We expect to move to unseal the indictment in the morning and will have more to say at that time,” said U.S. Attorney Damian Williams in a statement."