A billionaire who lost his fortune in one day was arrested

A billionaire who lost his fortune in one day was arrested

Bahamas police arrested him Sam Bankman-Friedtthe founder and former CEO of the bankrupt cryptocurrency exchange FTX, writes Techcrunch. The United States has just filed a criminal complaint against the businessman living on the island, whose extradition will also be sought.

The Bahamas Attorney General’s Office has announced that the former billionaire will be taken into custody pending a formal extradition request. In this case, the Prime Minister of The Bahamas also published a statement saying that it is in the common interest of The Bahamas and the United States to hold all persons associated with FTX who may have betrayed or breached the trust of the public to be held accountable. Law.

While the United States pursues individual charges against the former owner of FTX, the Bahamas continues its comprehensive criminal investigation into FTX’s collapse. A statement issued by the New York Attorney General’s Office confirmed that the arrest came at the request of the US government.

The man, who lost 93 percent of his wealth in one day, was due to testify before the House Financial Services Committee in the coming days. However, on the advice of his lawyer, he refused the subpoenas.

The commission is investigating the events leading up to the collapse of FTX, which resulted in the cryptocurrency exchange last month Filed bankruptcyBankman-Fried was forced to step down as CEO. The bankruptcy filing came after Bankman-Fried transferred $10 billion of FTX client funds to its trading subsidiary, Alameda Research. According to the man, it was just a misunderstanding, and he wasn’t aware of any abuse anyway.

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