Sam Bankman-Fried (SBF), the former CEO of FTX, was detained in the Bahamas just as he was scheduled to give an online testimony on Tuesday before the US House Financial Services Committee.
On Twitter, the US Attorney for the Southern District of New York (SDNY), Damian Williams, announced the arrest and stated that SBF was taken into custody at the request of the US government following the filing of a sealed indictment by the SDNY.
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
SBF may face 612,000 years in prison
The New York Times reports that the charges against SBF in the indictment, which will be made public on Tuesday. It included money laundering, securities fraud, wire fraud, and conspiracy
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