Fun

Bahamian AG and Prime Minister Announce Sam Bankman-Fried’s Arrest in The Bahamas

News Feed - 2022-12-13 09:12:13

Bahamian AG and Prime Minister Announce Sam Bankman-Fried"s Arrest in The Bahamas


Disgraced FTX co-founder Sam Bankman-Fried (SBF) has been arrested in The Bahamas, according to local reports citing the country’s attorney general Ryan Pinder. According to Pinder, SBF’s arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.”


**Editor’s note: This article’s final paragraph was updated at 8:10 p.m. (ET) on Dec. 12, 2022, to reflect a report from the New York Times that says Southern District of New York prosecutors confirmed SBF had been indicted. FTX Co-Founder Sam Bankman-Fried Is in Custody in The Bahamas


Following the collapse of FTX and Alameda Research last month and the bankruptcy filing on Nov. 11, 2022, Sam Bankman-Fried (SBF) has been arrested. On Dec. 12, 2022, The Tribune reported that attorney general (AG) Ryan Pinder disclosed the news to the press. The news follows the Bahamian AG insisting that FTX was subject of an “active and ongoing investigation.” Pinder told the press on Monday that Bankman-Fried’s arrest in The Bahamas will likely lead to a U.S. extradition.


“On 12 December 2022, the Office of the Attorney General of The Bahamas is announcing the arrest by The Royal Bahamas Police Force of Sam Bankman-Fried (SBF), former CEO of FTX,” the AG’s office detailed. “SBF’s arrest followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition,” the Bahamian AG office declared.


The news follows the reports that said ex-Alameda CEO Caroline Ellison hired Wilmerhale partner Stephanie Avakian, an attorney that worked for the U.S. Securities and Exchange Commission (SEC). Bankman-Fried has reportedly retained attorney Mark Cohen, the lawyer who represented Ghislaine Maxwell during her recent sex trafficking case. Prime minister (PM) Philip Davis explained to the press that The Bahamas intends to fully handle the process with the United States.


“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,” Davis said. “While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere,” the PM added. 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



According to the New York Times (NYT), Southern District of New York prosecutors confirmed SBF had been charged and detailed SBF’s “indictment would be unsealed” on Tuesday. “The charges included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, said a person with knowledge of the matter,” the NYT report explained on Monday. Tags in this story Ag, alameda, Alameda Research, Attorney General, Caroline Ellison, Dec. 12 2022 arrest, extradite, extradition, FTX co-founder, Ghislaine Maxwell, Lawyers, Mark Cohen, Philip Davis., PM, prime minister, Ryan Pinder, Sam Bankman-Fried, Sam Bankman-Fried (SBF), sbf, US


What do you think about Sam Bankman-Fried getting arrested in The Bahamas? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. While Elon Musk Plans to Purge 1.5 Billion Inactive Twitter Names, Bitcoiners Beg Him to Preserve Hal Finney"s Account NEWS | 7 hours ago Report: Alameda"s Caroline Ellison Retains SEC’s Former Enforcement Division Chief NEWS | 11 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleWhile Elon Musk Plans to Purge 1.5 Billion Inactive Twitter Names, Bitcoiners Beg Him to Preserve Hal Finney’s Account Next articleSam Bankman-Fried Wants to Start New Business to Repay FTX Users — ‘I’m Going to Try if I Can’ Show comments More Popular NewsIn Case You Missed ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"


Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

News Feed

Creators of the Cool Cats NFT Collection Sign With Leading Talent Agency CAA
Creators of the Cool Cats NFT Collection Sign With Leading Talent Agency CAA According to a report released on Friday, the creators of the non-fungible token (NFT) collection Cool
OpenSea enables support for ERC-721C programmable earnings standard
Zhiyuan Sun4 hours agoOpenSea enables support for ERC-721C programmable earnings standardThe standard allows creators to implement programmable and enforceable creator earnings on-chain.678 Total views9 Total sharesListe
Bityard Has Now Officially Launched – Register now and earn 258 USDT for Free
Bityard Has Now Officially Launched – Register now and earn 258 USDT for Free You’ve heard it first here, Bityard, the world’s leading digital contract trading plat
BTC Institutional Investor Forecast for 2023, Musk Makes McDonald’s Promise Again, Kiyosaki Says ‘We Are in Global Recession’ and More — Week in Review
BTC Institutional Investor Forecast for 2023, Musk Makes McDonald"s Promise Again, Kiyosaki Says "We Are in Global Recession" and More — Week in Review As the first month of the
Weekly NFT Sales Show Improvement, Fantom and Immutable X NFT Volume Spikes
Weekly NFT Sales Show Improvement, Fantom and Immutable X NFT Volume Spikes Non-fungible token (NFT) sales managed to climb higher during the last seven days than the previous week
Binance restricts unverified sub-accounts on Exchange Link program
Ezra Reguerra14 hours agoBinance restricts unverified sub-accounts on Exchange Link programSub-accounts without the necessary KYC information will be fully restricted by May 20.1188 Total views12 Total sharesListen to ar
This Analyst Called The Bitcoin Price Crash Early, Total Prediction Says More Pain Is Coming
Este artículo también está disponible en español. Crypto analyst Akademik, who called the Bitcoin price crash early has revealed his total predictions for the flagship cr
KICK.IO’s Token Will Be Available on ExMarkets LaunchPad, 15th September
KICK.IO"s Token Will Be Available on ExMarkets LaunchPad, 15th September sponsored As the $ADAbull market continues to gather steam – with new price records set each month&#x
Meta’s metaverse lab has lost $40B since Facebook changed its name in 2021
Tristan Greene6 hours agoMeta’s metaverse lab has lost $40B since Facebook changed its name in 2021Despite the losses, the company’s other endeavors pushed it to record profits in Q4 2023, with gains expected to cont
Amaka Nwaokocha13 hours agoOpenAI gets lukewarm response to customized AI offeringThe company said the fine-tuning facility and the training data used for fine-tuning are scrutinized via a moderation API and the GPT-4 po
AI ‘Skeleton Key’ attack found by Microsoft could expose personal, financial data
Tristan Greene2 hours agoAI ‘Skeleton Key’ attack found by Microsoft could expose personal, financial dataAside from being wary about which AI services you use, there are other steps organizations can take to protect
Senator Chuck Schumer pledges pro-crypto laws if Harris is president
Tom Mitchelhill8 hours agoSenator Chuck Schumer pledges pro-crypto laws if Harris is presidentSpeaking at the Crypto4Harris event, the Senate majority leader said he will make it his goal to introduce pro-crypto legislat