a US lawyer, former CEO of FTX Sam Bankman-Fried confirmed his arrest by Bahamian authorities on Monday evening at the request of the US Government.
Lawyer Damian Williams Sam Bankman-Fried has been confirmed to have been arrested on an allegation based in the Southern District Court of New York, according to a statement released by the company. According to Williams, the indictment will be released today.
The Bahamas Attorney General’s Office also confirmed that Bankman-Fried faces the possibility of extradition to the United States.
As Koinfinans.com reported, Sam Bankman-Fried was considering attending the Congress session to be held today remotely. But the SBF’s arrest could change things.
On the other hand, Bankman-Fried reportedly refused to testify at the Senate Banking Committee hearing on Wednesday on the collapse of FTX.
Once the second largest cryptocurrency exchange FTXfiled for bankruptcy after allegations of embezzlement of client funds.
In the news shared by CoinDesk, it was claimed that the funds were used through Alameda Research.
According to recent news, Terra founder Do KwonIt was determined that he was also in Serbia. Korean authorities may have initiated legal proceedings for Kwon’s extradition.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.