Crypto Mogul Arrested In The Bahamas On US Charges

ABC News reports:

Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, has been arrested in the Bahamas on criminal charges, the Bahamas Attorney General’s Office announced Monday.

The 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 office said.

FTX filed for bankruptcy protection in November after a rival cryptocurrency exchange announced it was backing out of a plan to acquire it. The filing follows reports that FTX used deposits to pay Alameda Research creditors.

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BREAKING: FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal chargeshttps://t.co/SZ6mTG7Vtr

— Judd Legum (@JuddLegum) December 12, 2022