Sam Bankman-Fried has been caught and will soon be extradited to the United States

Following a request from the United States government and the contents of a secret indictment, the Royal Bahamas Police have detained SBF.

According to an informed source quoted by The New York Times on December 12, Bankman-Fried faces several counts of wire and securities fraud, conspiracy to conduct wire and financial crimes, and money laundering.

Pinder has promised that the extradition of Bankman-Fried would be processed “promptly” should the United States make such a request.

The United States Attorney for the Southern District of New York tweeted on December 12 that Bahamas officials had detained Bankman-Fried based on an indictment it had filed but had not yet unsealed but will do so “in the morning.”

Prior to filing for bankruptcy on November 11, FTX was under a “close” investigation by the U.S. Department of Justice (DOJ) for potentially illegal transfers of hundreds of millions of dollars.

The collapse of the exchange is being investigated by the House Committee on Financial Services, and Bankman-Fried was scheduled to testify remotely before the committee the day before his arrest.

Also Read: Bloomberg Reports That Bahamas Regulators Examine FTX Client Withdrawals

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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