FTX’s Sam Bankman-Fried arrested in the Bahamas

FTX founder Sam Bankman-Fried, also known as SBF, has been arrested in The Bahamas on behalf of the US government, which filed unspecified criminal charges against him. SBF is scheduled to appear today in a magistrates’ court in the Caribbean country’s capital, Nassau.

“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,” U.S. Attorney for the Southern District of New York Damian Williams confirmed on Twitter. “We expect to move to unseal the indictment in the morning and will have more to say at that time.”

Though not many details are known, SBF is expected to 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,” the Bahamian Prime Minister Philip Davis said in a press release. “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.”

Last month, the world’s third-largest cryptocurrency exchange FTX filed for bankruptcy in the US and SBF resigned as CEO. He tweeted back then: “I’m really sorry, again, that we ended up here. Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance to them. Ultimately hopefully it can be better for customers.”

Meanwhile the scandal became so dramatic being fuelled by details like drugs, poker, polyamorous luxury-lifestyle, that Amazon ordered an 8-episode TV Show based on it. The limited series are set to go into production in spring 2023, and the pilot will be written by David Weil. Jennifer Salke, head of Amazon Studios, told Variety: “we are excited to be able to continue our great working relationship with David, Joe, Anthony, and the AGBO team with this fascinating event series. I can’t think of better partners to bring this multifaceted story to our global Prime Video audience.”

Source: mashable.com