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Sam Bankman-Fried has been arrested by The Royal Bahamas Police Force following reports that the United States filed criminal charges against the founder and former CEO of cryptocurrency exchange FTX , and is likely to request his extradition. Government, based on a sealed indictment filed by the SDNY.”
A new bankruptcy filing, first reported by CNBC , shows that FTX’s corporate funds were used to purchase homes in the Bahamas among other personal items. The details arise less than a week after the now infamous crypto exchange filed for bankruptcy – a decision that founder and former CEO Sam Bankman-Fried said he regrets.
He wrote: “There were numerous potential funding offers — including signed LOIs post chapter 11 filing totaling over $4b. judge released Bankman-Fried on a $250 million bail bond after he was extradited to America from the Bahamas. Bankman-Fried could face up to 115 years in jail if convicted on all charges. Last month, a U.S.
During the interview, SBF, while sipping (and at least once, spilling) a La Croix in the Bahamas, claimed multiple times that he did not know how certain aspects of the business, from its ties to its eventual bankruptcy, went so wrong. Darrell Etherington contributed reporting to this piece. . ” meeting with regulators.
The o nce-third-largest crypto exchange FTX on November 11 filed for bankruptcy in the U.S. By December 12, Bankman-Fried had been arrested in the Bahamas. Other crypto companies that also filed for bankruptcy this year but also technically did not shut down include Celsius and BlockFi. The next day, the U.S.
Most FTX customers have been unable to withdraw their funds from the platform as the Bahamas-headquartered company goes through bankruptcy proceedings. FTX bankruptcy filings state that it owes money to over a million people and businesses after SBF used billions of dollars from customer money to prop up Alameda Research.
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