FTX Co-Founder Arrested In Bahamas

Sam Bankman-Fried, the disgraced Co-founder and former Head of Digital Asset exchange FTX, was Arrested in the Bahamas on Monday.

Bankman-Fried’s detention followed a Notification from the U.S., that it had filed Criminal Charges against him, the Bahamas Attorney General said in a Statement.

Authorities in both Countries had been probing his involvement in the company’s Collapse last month.

In a Statement, U.S. Attorney for the Southern District of New York, Damian Williams, said the Arrest was made at the request of the American Government.

More than 100 FTX-related Entities filed for U.S. Bankruptcy Protections on Nov. 11th.

The Firm and Bankman-Fried are facing Investigations in the U.S. and the Bahamas, where the company was Headquartered, into a range of possible Misconduct.

One key Inquiry, is whether Customer Funds were lent out to Trading firm Alameda Research, which he also founded.

In Media interviews since FTX’s Collapse, Bankman-Fried has admitted to major Managerial Missteps, but has also claimed that he never tried to commit Fraud or break the Law.

In his remarks prepared for a U.S. House Hearing that Bankman-Fried was scheduled to appear at on Tuesday, the former CEO offered a blunt Assessment of his plight. 

“I would like to start by formally stating under oath: I f*cked up,” he said.










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