The disgraced founder of FTX has been reportedly arrested by Bahamian authorities.
Coin Desk broke the news after a press release by Attorney General of the Bahamas Ryan Pinder KC was making its way around the web.
In the press release AG Pinder was quoted saying “On December 12, 2022, the Office of the Attorney General of the Bahamas is announcing the arrest by the Royal Bahamas Police Force of Sam Bankman-Fried (SBF) former CEO of FTX.”
The statement would go on to say charges were filed against him in the United States and SBF will likely be extradited back to the US to face those charges.
— CoinDesk (@CoinDesk) December 12, 2022
Here’s the press release from Attorney General of the Bahamas Ryan Pinder KC:
“As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act,” the statement, attributed to Attorney General Ryan Pinder, said.
“At such time as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligations with the United States.”
In the same statement, Bahamas Prime Minister Philip Davis said the country would continue pursuing its own investigation into FTX’s collapse, alongside the U.S.’s criminal charges.
SBF was supposed to testify before the House Financial Services Committee this Tuesday but it appears he will no longer be talking to anybody except a lawyer.
This story is developing.