Türkiye'de Mostbet çok saygın ve popüler: en yüksek oranlarla spor bahisleri yapmayı, evden çıkmadan online casinoları oynamayı ve yüksek bonuslar almayı mümkün kılıyor.
Search for:
Polskie casino Mostbet to setki gier, zakłady sportowe z wysokimi kursami, gwarancja wygranej, wysokie bonusy dla każdego.
  • Home/
  • Business/
  • FTX founder Sam Bankman-Fried arrested in the Bahamas on US criminal charges

FTX founder Sam Bankman-Fried arrested in the Bahamas on US criminal charges

Opinions expressed by australiabusinessblog.com contributors are their own.

On Monday, Sam Bankman-Fried (SBF), the founder of the failed FTX cryptocurrency exchange, was arrested in the Bahamas. The Bahamian government said in a press release that SBF’s arrest “followed receipt of formal notice from the United States that it has filed criminal charges” against Bankman-Fried and that it will most likely seek to extradite him to the United States .

Bloomberg | Getty Images

SBF has been investigated by the Justice Department in connection with the collapse and bankruptcy of FTX, its cryptocurrency company that was once worth $32 billion.

The New York Times reports that prosecutors for the Southern District of New York have confirmed the allegations. Prosecutors also said we can expect an indictment on Tuesday. According to the NYT sources, SBF is facing a laundry list of charges, including wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering.

News of SBF’s arrest came shortly after he took to Twitter to respond to a report By the Australian financial statement that a group connected to FTX’s leadership created a Signal chat group called “Wirefraud,” which they used to exchange confidential information about the company’s activities prior to the implosion. “If this is true then I wasn’t a member of that inner circle,” Bankman-Fried tweeted on an account linking to the AFR article, adding: “(I’m pretty sure it’s just false; I never seen such a group).”

The Time quoted Damian Williams, U.S. Attorney for the Southern District of New York, as saying in a statement that “Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. government, on a sealed indictment,” and that his office expects ” those are going to unseal the indictment tomorrow morning and will have more to say by then.

FTX’s downfall began after a flurry of withdrawal requests in early November revealed an $8 billion hole in the company’s accounts. SBF asked for help from the Binance cryptocurrency exchange, and it initially looked like Binance would go ahead — but when the larger exchange scrutinized FTX’s financial situation, the deal fell through.

Sam Bankman-Fried was scheduled to testify remotely before the House of Representatives’ Financial Services Committee on Tuesday. It’s safe to say the hearing will likely be postponed.

Shreya has been with australiabusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider australiabusinessblog.com, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Leave A Comment

All fields marked with an asterisk (*) are required