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FTX founder, Bankman-Fried, arrested in Bahamas
The founder and former chief executive officer (CEO) of Futures Exchange (FTX), Sam Bankman-Fried, has been arrested by Bahamas authorities amid investigation into his cryptocurrency exchange firm.
Bahamas authorities made the arrest on Monday following a request from the United States government, which filed criminal charges against Bankman-Fried.
Ripples Nigeria had reported that FTX filed for bankruptcy after crypto exchange rival, Binance, pulled out of its decision to acquire Bankman-Fried’s firm.
The acquisition was cancelled due to allegation of misuse of investors’ funds by FTX, according to Binance founder, Zhao Changpeng, who also revealed that the US authorities were investigating Bankman-Fried.
There were also allegations of wire fraud, securities fraud conspiracy and money laundering against Bankman-Fried’s company.
READ ALSO:Sam Bankman-Fried eyes new business after FTX’s bankruptcy
In a post on social media platform, Twitter, on Monday evening, US Attorney of the Southern District of New York (SDNY), Damian Williams, confirmed the arrest.
“Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY.
“We expect to move to unseal the indictment in the morning and will have more to say at that time.” Williams wrote on Twitter.
Three days ago, Ripples Nigeria reported that Bankman-Fried said he’s willing to start a new business to pay investors who lost money invested in cryptocurrencies on FTX exchange.
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