Sam Bankman-Fried, founder and ex-CEO of troubled crypto firm FTX, has been arrested in the Bahamas after the Southern District of New York reached an extradition agreement with the Bahamian government, CNBC reported.
The US Attorney for the Southern District of New York, Damian Williams, said on Tuesday morning that the law enforcement body is looking to “unseal the indictment.”
According to the New York Times, the charges were money laundering, wire fraud, wire fraud conspiracy, securities fraud, and securities fraud conspiracy.
The US Securities and Exchange Commission also announced plans to file charges against Bankman-Fried for “his violations of securities laws.”
Bankman-Fried is due to testify virtually before the House Committee on Financial Services today.
The arrest came after FTX’s sister company, Alameda Research, loaned user funds to pay creditors, which led to FTX’s liquidity crunch and bankruptcy.
See also: Singaporeans feel ‘betrayed’ by Temasek-backed FTX
Editing by Miguel Cordon and Dhania Putri Sarahtika
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