Arrest of the founder of the cryptocurrency exchange FTX

The Bahamas police announced the arrest of the founder of the FTX cryptocurrency exchange, Sam Bankman-Freed, after the US Attorney’s Office opened a criminal case against him.

The Southern District of New York, which is investigating 30-year-old Bankman Freed and the collapse of FTX and its trading subsidiary Alameda, confirmed on Twitter that he had been arrested, saying “Bahamian authorities have arrested Samuel Bankman Freed at the request of the US government” and on based on a closed indictment filed by SDNY.

USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Freed upon request of US government founded on sealed indictment filed by SDNY. We expect move uncover the indictment in in the morning and will more say at the time.

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

It’s unclear what allegations await Fried, the crypto celebrity who became an overnight pariah last month as his company faced a liquidity crisis and filed for bankruptcy, leaving at least a million savers unable to access their funds.

Fried was scheduled to testify today, Tuesday, practically before the US House of Representatives Financial Services Committee, which is demanding answers about how the company collapsed.

New FTX CEO John J. Ray is also due to testify today.

Source: axios

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