Boy Billionaire Sam Bankman-Fried Arrested In The Bahamas

  • Police in The Bahamas on Monday night took FTX cryptocurrency platform founder Sam Bankman-Fried  into custody, one day before he was set to testimony to Congress.
  • Authorities have filed criminal charges against the Democrat mega-donor and FTX founder, according to a statement from the Attorney General of The Bahamas.
  • The FTX cryptocurrency exchange platform collapsed amid reports it was losing value, which resulted in investors scrambling to withdraw their money and allegations that Bankman-Fried had mismanaged and perhaps defrauded investors.
  • “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,” said Bahama Prime Minister Philip Davis. “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.”
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