Former CEO of bankrupt crypto exchange FTX, has been arrested in the Bahamas, at the request of the US authorities as he was expected to testify online before the US House Financial Services Committee
Sam Bankman-Fried (SBF), the former CEO of bankrupt crypto exchange FTX, has been arrested in the Bahamas, as he was expected to testify online before the US House Financial Services Committee on Tuesday.
The US Attorney for the Southern District of New York (SDNY), Damian Williams, confirmed the arrest on Twitter, saying that Bahamian authorities arrested SBF at the request of the US government, based on a sealed indictment filed by the SDNY.
“We expect to move to unseal the indictment in the morning and will have more to say at that time,” he posted on Tuesday.
John J. Ray III, who took over as the new CEO of FTX, has said that never in his career has he “seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.
