The game is over for Sam Bankman-Fried. He’s been laying low in the Caribbean for weeks since the collapse of his FTX exchange. The former ‘World’s most charitable billionaire’ caused billions of dollars of damage to various entities across the globe. Today, the conclusion to his story begins. The United States sent a notice of the new charges officially filed against SBF and the potential for an extradition request to the Royal Police of The Bahamas, resulting in his immediate arrest and detention.
A copy of the paperwork with a formal statement from the Commonwealth of the Bahamas was shared on twitter by Forbes writer Sarah Emerson.
The letter confirms the reasons for the arrest of Sam Bankman-Fried, who goes by the alias “SBF.”
Other Corrupt Executives May Be Next
According to the letter, both The Bahamas and the United States governments have dedicated themselves to figuring out who’s responsible for the FTX collapse. And not only that, what happened to the misallocated money.
Sam Bankman-Fried is the main point of interest it appears but he may not be the only one. The Royal Police are continuing their own investigation to file charges against other corrupt FTX executives and associates.
The New Charges Officially Filed
The extradition request for SBF has not officially been sent. However, The Bahamas police are holding Friedman because new criminal charges have been filed in a sealed indictment.
The sealed indictment means charges will not be made public at this time. Nonetheless NY Times has reported the charges, per CNBC. The criminal charges filed against Bankman-Fried include securities fraud, wire fraud, money laundering, wire fraud conspiracy, and securities fraud conspiracy.