While SBF was due to testify at the US Senate hearing on December 13, the former CEO of FTX has just been arrested and officially taken into custody by authorities in the Bahamas after the United States filed criminal charges. against the founder of FTX.
Mis à jour le 12/13/2022 à 14:35
Bahamian authorities have just declared that the former CEO of FTX was arrested and taken into custody on December 13.
FTX case : SBF soon in prison ?
It’s official, Sam Bankman-Fried (SBF) the former CEO of cryptocurrency platform FTX has been arrested by Bahamian authorities and is currently in police custody.
Bankman-Fried’s arrest came after a notification from the United States that she had filed criminal charges against the FTX founder. As a reminder, SBF was called to testify on December 13 in the US Senate about the collapse of the FTX platform. He will eventually be arrested before the hearing by Bahamian law enforcement.
The New York Times reported that the criminal charges against Sam Bankman-Fried include :
wire fraud conspiracy,
securities fraud conspiracy,
The FTX founder was reportedly arrested around 6:00 p.m. Dec. 12 at his apartment complex in Albany, Bahamas, according to a Bahamian police statement. According to someone close to the case, SBF would have been cooperative during his arrest. He will have to appear today, Tuesday, December 13, before the court of first instance in Nassau, the capital of the Bahamas.
US seeks SBF’s extradition
The US government requested SBF’s extradition. At this time, no indication has been shared on when Bankman-Fried might be transferred to the United States. Bahamian authorities have said that in accordance with the extradition treaty with the United States they will “promptly” process the extradition request. Nevertheless, this type of procedure can sometimes take weeks.
The Prime Minister of the Bahamas has nevertheless stated that the Bahamas will still continue its own investigations into the FTX collapse.
The arrest of SBF was certainly the next step that could be expected after the collapse of FTX, the cryptocurrency platform. Lawyer says based on charges against former FTX CEO and federal sentencing guidelines, SBF could face up to 612,000 years in prison.
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Léa is part of the InvestX team which supports members in their training. She is also a crypto enthusiast who follows the market closely. For the InvestX.fr site, she writes articles to help readers decipher the news and what happens day after day in the world of blockchains.
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