The Royal Bahamas Police Force arrested Sam Bankman-Fried (SBF). The arrest warrant came from the U.S. government on a sealed indictment.
The United States government notified Ryan Pinder, Bahamas Attorney General and Minister of Legal Affairs, of the criminal case against SBF and probable extradition. The Royal Bahamas Police Force arrested the founder and ex-CEO of FTX thereafter. No formal extradition request for Sam Bankman-Fried had yet been made, but Pinder had already indicated a willingness to handle any such request “promptly.” The New York Times reports this, citing a knowledgeable person.
SBF’s arrest was confirmed by the U.S. Attorney’s Office for the Southern District of New York. Officials said Bahamian authorities arrested Sam Bankman-Fried on a sealed indictment scheduled to be made public “in the morning.” According to The New York Times, SBF is charged with wire and securities fraud committed by a group of persons by prior conspiracy, as well as money laundering.
The SEC is filing separate charges. Gurbir Grewal, SEC Enforcement Director, said the agency had “separately authorized charges relating to Mr. Bankman-Fried’s violations of securities laws.” The official clarified that final charges would be publicly filed “tomorrow,” December 14, in the Southern District of New York.
Bahamas Prime Minister Philip Davis said the two countries “have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law.” CNBC quoted him as saying. The official also assured that “The Bahamas will continue its own investigations into the collapse of FTX” in close cooperation with the U.S., whose law enforcement agencies are pressing charges on a case-by-case basis.
SBF’s arrest came one day before he was set to testify before the House Financial Services Committee at a hearing investigating FTX’s collapse. Recall that investigations into Sam Bankman-Fried and FTX began before the bankruptcy of the exchange and its affiliates in the U.S. But then, they intensified not only in the U.S. but also in other countries. At that time rumors about the arrest and possible extradition of the businessman to the United States began circulating.
