Disgraced FTX co-founder Sam Bankman-Fried (SBF) has been arrested in The Bahamas, in keeping with native experiences citing the nation’s legal professional common Ryan Pinder. In line with Pinder, SBF’s arrest “adopted receipt of formal notification from the USA that it has filed felony prices in opposition to SBF and is more likely to request his extradition.”
**Editor’s word: This text’s remaining paragraph was up to date at 8:10 p.m. (ET) on Dec. 12, 2022, to mirror a report from the New York Instances that claims Southern District of New York prosecutors confirmed SBF had been indicted.
FTX Co-Founder Sam Bankman-Fried Is in Custody in The Bahamas
Following the collapse of FTX and Alameda Analysis final month and the chapter submitting on Nov. 11, 2022, Sam Bankman-Fried (SBF) has been arrested. On Dec. 12, 2022, The Tribune reported that legal professional common (AG) Ryan Pinder disclosed the information to the press. The information follows the Bahamian AG insisting that FTX was topic of an “lively and ongoing investigation.” Pinder instructed the press on Monday that Bankman-Fried’s arrest in The Bahamas will possible result in a U.S. extradition.
“On 12 December 2022, the Workplace of the Legal professional Common of The Bahamas is asserting the arrest by The Royal Bahamas Police Power of Sam Bankman-Fried (SBF), former CEO of FTX,” the AG’s workplace detailed. “SBF’s arrest adopted receipt of formal notification from the USA that it has filed felony prices in opposition to SBF and is more likely to request his extradition,” the Bahamian AG workplace declared.
The information follows the experiences that stated ex-Alameda CEO Caroline Ellison employed Wilmerhale associate Stephanie Avakian, an legal professional that labored for the U.S. Securities and Trade Fee (SEC). Bankman-Fried has reportedly retained legal professional Mark Cohen, the lawyer who represented Ghislaine Maxwell throughout her current intercourse trafficking case. Prime minister (PM) Philip Davis defined to the press that The Bahamas intends to completely deal with the method with the USA.
“The Bahamas and the USA have a shared curiosity in holding accountable all people related to FTX who could have betrayed the general public belief and damaged the legislation,” Davis stated. “Whereas the USA is pursuing felony prices in opposition to SBF individually, The Bahamas will proceed its personal regulatory and felony investigations into the collapse of FTX, with the continued cooperation of its legislation enforcement and regulatory companions in the USA and elsewhere,” the PM added.
In line with the New York Instances (NYT), Southern District of New York prosecutors confirmed SBF had been charged and detailed SBF’s “indictment can be unsealed” on Tuesday. “The fees included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and cash laundering, stated an individual with information of the matter,” the NYT report defined on Monday.
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