The former CEO of failed cryptocurrency firm FTX, Sam Bankman-Fried, has been arrested in the Bahamas at the request of the US government, US and Bahamian authorities said Monday.
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The arrest was made Monday after the US filed criminal charges that are expected to be unsealed Tuesday, according to US Attorney Damian Williams. Bankman-Fried had been under criminal investigation by US and Bahamian authorities following the collapse last month of FTX. The firm filed for bankruptcy on Nov. 11, when it ran out of money after the cryptocurrency equivalent of a bank run.
"We expect to move to unseal the indictment in the morning and will have more to say at that time," Williams said.
Bahamian Attorney General Ryan Pinder said the Bahamas would "promptly" extradite Bankman-Fried to the US once the indictment is unsealed and US authorities make a formal request. FTX is headquartered in the Bahamas and Bankman-Fried has largely remained in his Bahamian luxury compound in Nassau since the company's failure.
A spokesman for Bankman-Fried had no comment Monday evening. Bankman-Fried has a right to contest his extradition, which could delay but not likely stop his transfer to the US.
