Last Updated on December 13, 2022
Sam Bankman-Fried, 30, the founder of the cryptocurrency exchange FTX, was arrested shortly after 6 PM local time in Albany, New Providence, Bahamas on Monday evening at the request of the U.S. government after the Southern District of New York (SDNY) filed a sealed indictment against him.
“USA Damien Williams: 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,” the SDNY said.
USA Damian Williams: 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.
— US Attorney SDNY (@SDNYnews) December 12, 2022
“On 12 December 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), the former CEO of FTX. SBF’s 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.
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.
At such times as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligation with the United States.
Responding to SBF’s arrested, Primer Minister Davis stated, ‘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. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.'”
-Statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC on the arrest of Sam Bankman-Fried.
“Sam Bankman-Fried was scheduled to testify to the House Financial Services Committee in Washington tomorrow,” Hamadeh said. “Instead, the US District for the Southern District of New York arrested him in the Bahamas.
“As a former prosecutor this doesn’t make much sense. You want him to talk,” Hamadeh added.
Sam Bankman-Fried was scheduled to testify to the House Financial Services Committee in Washington tomorrow. Instead, the US District for the Southern District of New York arrested him in the Bahamas.
As a former prosecutor this doesn’t make much sense. You want him to talk…
— Abe Hamadeh (@AbrahamHamadeh) December 13, 2022
SBF reportedly refused the subpoena to testify before the House Financial Services Committee.
Notably, House Minority Leader Kevin McCarthy (R-CA) led a “secretive” anti-MAGA campaign within the ranks of the GOP which facilitated some $700,000 in funds provided by FTX executive, Ryan Salame.
Which Destroyed the so-called "Red Wave." pic.twitter.com/TDwJpKbRd4
— National File (@NationalFile) November 18, 2022
An extradition request for Bankman-Fried by the U.S. government is expected to be forthcoming, according to the Bahamian law enforcement.