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Sam Bankman-Fried (SBF) Arrested in Bahamas By Request of US Authorities

by BSCN

December 13, 2022

SBF faces criminal investigation for one of the largest financial frauds in history.

Bahamas Authorities Arrest SBF

Infamous crypto personality Sam Bankman-Fried has been arrested Monday, December 12, evening local time in the Bahamas.

SBF faces criminal investigation by U.S. and Bahamian authorities following the collapse of FTX last month. The American citizen likely faces extradition back to the USA. SBF had teased the idea of attending a Congression hearing on Tuesday, Dec. 13 to which he was invited.

🚨BREAKING: #SBF arrested by the Bahamas and states the #US has "shared interest in holding accountable all individual associated with FTX."#FTX #Arrested #Finally #Crypto pic.twitter.com/YAe7AaMsfH
— BSC News (@BSCNews) December 12, 2022

The island nation's Attorney General confirmed the FTX founder and former CEO’s arrest after American authorities filed criminal charges against him.

Attorney Damian Williams for the United States Attorney’s Office for the Southern District of New York confirmed the request and SBF’s arrest in a public statement on Monday as well.

USA 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.
— US Attorney SDNY (@SDNYnews) December 12, 2022

SBF’s potential charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. He hopefully will be face life in prison.

The SDNY Attorney’s Office expects to unseal the indictment documents around 10:00EM EST Tuesday morning - 15:00 UTC.