SBF faces criminal investigation for one of the largest financial frauds in history.
Bahamas Authorities Arrest SBF
Infamous crypto personality Sam Bankman-Fried has been arrested Monday, December 12, evening local time in the Bahamas.
SBF faces criminal investigation by U.S. and Bahamian authorities following the collapse of FTX last month. The American citizen likely faces extradition back to the USA. SBF had teased the idea of attending a Congression hearing on Tuesday, Dec. 13 to which he was invited.+
The island nation’s Attorney General confirmed the FTX founder and former CEO’s arrest after American authorities filed criminal charges against him.
Attorney Damian Williams for the United States Attorney’s Office for the Southern District of New York confirmed the request and SBF’s arrest in a public statement on Monday as well.
SBF’s potential charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. He hopefully will be face life in prison.
The SDNY Attorney’s Office expects to unseal the indictment documents around 10:00EM EST Tuesday morning – 15:00 UTC.
Source : bsc.news
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