On Monday, FTX founder Sam Bankman-Fried was arrested in the Bahamas after the US files criminal charges and 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.”
– Philip Davis, Prime Minister of Bahamas
Damian Williams, the US Attorney for the Southern District of New York has charged Bankman-Fired with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering.
Gurbir Grewal, the Securities and Exchange Commission’s Enforcement Director has launched a separate set of charges for “violations of our securities laws.”
In November, Bankman-Fried resigned as CEO after FTX and its affiliates filed for bankruptcy, due to a run on assets similar to a bank run.
