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superadmin

12-13-2022, 07:49 PM
FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges
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  • The cofounder and former CEO of bankrupt crypto trading firm FTX was arrested in the Bahamas after the U.S. attorney for the Southern District of New York shared a sealed indictment with the Bahamian government.
  • His arrest is the first concrete move by regulators to hold individuals accountable for the multibillion-dollar implosion of FTX last month.
  • Sam Bankman-Fried is expected to be extradited to the United States.


FTX founder Sam Bankman-Fried was arrested by Bahamian authorities Monday evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse.

His arrest is the first concrete move by regulators to hold individuals accountable for the multibillion-dollar implosion of FTX last month.

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superadmin

12-14-2022, 07:55 AM
FTX committed ‘old fashioned embezzlement,’ CEO tells lawmakers in blistering hearing
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The House Financial Services Committee held a hearing Tuesday on the collapse of cryptocurrency exchange FTX following the Monday night arrest of founder Sam Bankman-Fried in the Bahamas as U.S. regulators released a slew of civil and criminal charges against the one-time billionaire.

The Justice Department and Bahamian authorities said Bankman-Fried, who was previously scheduled to testify before the panel, was arrested based on an indictment in the U.S. that was unsealed shortly after the hearing started.

The U.S. Attorneys Office for the Southern District of New York charged the disgraced crypto executive with eight criminal counts: conspiracy to commit wire fraud and securities fraud, individual charges of securities fraud and wire fraud, money laundering and conspiracy to avoid campaign finance regulations.

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Ipoh Community Forums > News and Current Affairs > International News > Business, Economy and Investment > FTX Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges