FTX founder Sam Bankman-Fried.
• The updated version of this story can be read HERE.
Former CEO of FTX Sam Bankman-Fried has been arrested, Attorney General Ryan Pinder has announced.
In a statement released on Monday evening, Mr Pinder said the 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.”
Police said that officers of the Financial Crimes Investigation Unit arrested Bankman-Fried shortly after 6pm on Monday at his apartment complex in Albany.
They said he was arrested in reference to various financial offences against laws of the United States, which are also offences against laws of The Bahamas.
He was taken into custody without incident and will appear in Magistrate Court on Tuesday.
The Attorney General’s statement in full:
“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”), 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 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.
“Responding to SBF’s arrest, Prime 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.’