Crypto billionaire Sam Bankman-Fried was arrested in The Bahamas.
The 30-year-old disgraced former boss of cryptocurrency company FTX has become the center of an investigation after his $32 billion empire collapsed last month.
According to the reports, the young businessman has since been waiting for things to calm down in The Bahamas where he was now arrested by the local authorities.
Furthermore, Bankman-Fried is likely to face extradition after US prosecutors filed criminal charges against the billionaire in the States.
As of right now, it remains unclear what charges specifically the crypto boss will face should he be extradited to the US.
“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,” Bahamian Prime Minister Philip Davis announced after Bankman-Fried’s arrest.
“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.”
Confirming the arrest was also Damian Williams, the US Attorney for the Southern District of New York. In a statement, he wrote: “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.”
Williams went on to reveal that they “expect to unseal the indictment in the morning” when they provide additional information about their decision to pursue legal action againstBankman-Fried.
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