Sam Bankman-Fried, the founder of FTX, has been arrested on criminal charges. He was arrested on Monday in the Bahamas.
Sam Bankman-Fried is the former CEO of cryptocurrency giant FTX and trading firm Alameda Research. According to the
Royal Bahamas Police Force, Sam Bankman-Fried was arrested after federal prosecutors in New York filed
criminal charges contained in a sealed indictment. The specific charges are expected to be unsealed Tuesday.
Sam Bankman-Fried is facing a multi-count fraud indictment that comes one month after FTX filed a $32 billion bankruptcy.
He is due to appear in a courtroom in Nassau, Bahamas, Tuesday morning before his eventual transfer to New York for prosecution
Sam Bankman-Fried was also due to appear before Congress on Tuesday. After the collapse of FTX, federal prosecutors
in the Southern District of New York, have been looking at Sam Bankman-Fried. Tough days ahead for Sam. We will keep you updated.