Sam Bankman-Fried (S.B.F.), a former CEO of FTX, was taken into custody on December 13 at the demand of the U.S. government. According to a statement from the Southern District of New York’s U.S. Attorney’s Office. The co-founder of F.T.X. was supposed to testify before the U.S. Congress the next day but was arrested the day before.
U.S.A. Damian Williams: 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. We expect to move to unseal the indictment in the morning and will have more to say at that time.
The accusations state that Bankman-Fried conspired to commit money laundering, wire fraud, and securities fraud. Following S.B.F.’s arrest, the Royal Bahamas Police Force issued a formal statement that made quite a commotion in the cryptocurrency community, reiterating that the offenses for which S.B.F. was charged in the U.S. were also banned in the Bahamas.
A Statement from the Royal Bahamas Police Force on the arrest of Samual Benjamin Bankman-Fried. Police wish to inform that 30-year-old SAMUEL BENJAMIN BANKMAN-FRIED of California, U.S.A., has been arrested.
Sam Bankman-Fried Is Being Investigated In Two States
The Bahamas’ Prime Minister, Philip Davis, stated that since F.T.X. violated the public’s confidence and broke the law, both countries have a stake in holding all related parties accountable.
A government investigation will investigate S.B.F.’s participation in sending F.T.X. funds to the Bahamas, according to a report from Bloomberg on December 10. Officials from the Justice Dept. met with F.T.X.’s overseers to discuss the data needed for additional inquiry. The Department also planned to investigate whether S.B.F. transferred F.T.X. money to Alameda Research through a middleman.
Bahamian authorities were looking into F.T.X. at the same time. Both civil and criminal charges are looking into F.T.X. Digital Markets’ operations. According to a statement by the Bahamas (A.G.) and Minister of Legal Affairs Ryan Pinder just two weeks ago. The Bahamas Financial Crimes unit, the Financial Intelligence Unit, and the Securities Commission were all involved in the investigation.
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Furthermore, on December 13, the recently appointed FTX CEO, John Jay Ray III, testified before the House Financial Services Committee. He stated that even while he wouldn’t comment on S.B.F.’s claims, he would continue to ask him for information about the current probe
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