FTX founder Sam Bankman-Fried has been arrested by The Royal Bahamas Police Force
The U.S. is expected to request The Bahamas extradite Sam Bankman-Fried in short order, after the FTX CEO was arrested on Monday.
Authorities declined to comment on what the charges were.
However, the U.S. had already filed criminal charges against Bankman-Fried after the collapse of the FTX cryptocurrency exchange.
“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,” said Attorney General Ryan Pinder.
“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.”
RYAN PINDER, BAHAMIAN ATTORNEY GENERAL
U.S. prosecutors have indicted Mr Bankman-Fried, however the indictment remains under seal.
The Prime Minister of The Bahamas, Philip Davis said his country will continue to pursue its own investigation into FTX’s collapse.
“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,” he said.
Mr Bankman-Fried was expected to testify before the House Financial Services Committee on Tuesday.
FTX had been one the world’s largest cryptocurrency exchanges. However, it filed for bankruptcy in November after traders pulled $6 billion from the platform.
