The U.S. Securities and Exchange Commission on Tuesday charged Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, with defrauding investors.
Bahamian Attorney General Ryan Pinder said the Bahamas would "promptly" extradite Bankman-Fried to the U.S. Janice Yu reports.
Damian Williams, U.S. attorney for the Southern District of New York, said on Monday that specific charges were expected to be unsealed Tuesday. The arrest "followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition," the Bahamas Attorney General's Office said.
In response to the arrest announcement, Bahamas Prime Minister Philip Davis said, "The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law." Bankman-Fried had been scheduled to appear before Congress Tuesday to testify before the House Financial Services Committee in a hearing titled "Investigating the Collapse of FTX, Part 1." Rep. Maxine Waters, chairwoman of the committee, said in a statement Monday night that she was "surprised" to hear of the arrest.
Bankman-Fried, in a series of tweets, had said he's "willing to testify" after initially resisting the committee's request.
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