Flash, FTX’s Bankman Fried story takes a new turn after his arrest in the Bahamas.
Published on 14.12.2022
Sam Bankman Fried was arrested in the Bahamas on Monday just before testifying before Congress with John Ray III, the current CEO of FTX, on Tuesday. The timing of the arrest seems strange. However, in light of the vast donations the disgraced cryptocurrency executive has made to Democrats, Republicans like Lee Zeldin are awaiting answers from Bankman-Fried about his actions and speculating on the timing of his arrest.
Bankman Fried was under federal investigation after his cryptocurrency exchange firm FTX went bankrupt. He is accused of mismanaging his clients’ funds. Bankman Fried is the second largest donor to the Democratic Party, behind Soros. He used his money to inject $38 million into Democratic causes during the 2022 election cycle. Ukraine, which received millions of dollars from the Democratic-controlled legislature, was an FTX client, investing funds in a company that flipped and paid millions to Democrats. Some call it the biggest financial fraud case in US history.
Rep. Lee Zeldin tweeted, “Tomorrow, Sam Bankman-Fried was scheduled to testify before the House Financial Services Committee. The House GOP was prepared to put him on the spot in six different ways. Now SBF just got arrested tonight! Why not allow him to testify tomorrow and answer our many questions? »
Tomorrow, Sam Bankman-Fried was scheduled to testify before the House Financial Services Committee. @HouseGOP was ready to cook it six different ways.
And tonight, SBF has just been arrested!🧐
Why not allow him to testify first tomorrow and answer our many questions?
Bankman-Fried was arrested by Bahamian police following “receipt of official notification from the United States that they have filed criminal charges against SBF and may seek his extradition.” »
According Bahamian Prime Minister Philip Davis, the Bahamas is also investigating SBF as part of a regulatory and criminal investigation, claiming it may have betrayed the public trust and broken the law.
“The Bahamas and the United States are holding to account anyone associated with FTX who may have betrayed public trust and broken the law.
While the United States pursues 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 United States and elsewhere. »
🚨BREAKING: Sam Bankman-Fried was arrested by Bahamian police following “receipt of formal notification from the United States that they have filed criminal charges against SBF and may seek his extradition”.
The Attorney General’s Office and the Department of Legal Affairs issued a statement regarding SBF’s return to the United States for extradition, saying they would process the request expeditiously,
“At the time a formal extradition request is made, The Bahamas intends to process it expeditiously, consistent with Bahamian law and its treaty obligations with the United States. »
On Monday, U.S. Attorney Damian Williams said in a statement given to Fox News,
“We plan to request the opening of the indictment in the morning and we will have more to say then. »
The United States District Court for the Southern District of New York upheld Bankman-Fried’s arrest based on a court-sealed indictment.
FTX filed for bankruptcy on November 11, when the company ran out of money after what amounted to a “bank-run” following growing concerns over the currency’s financial strength. that prompted customers to withdraw their holdings all at once. The collapse took place just days after the midterm elections.