Sam Bankman-Fried, Ex-FTX CEO, Arrested in Bahamas 🚨

Sam Bankman-Fried, Former FTX CEO, , Arrested in Bahamas.<br />CBS News reports that the Office of the Attorney General of the Bahamas confirmed Bankman-Fried's arrest on Dec. 12.<br />His arrest "followed receipt of formal notification from <br />the United States that it has filed criminal charges <br />against SBF and is likely to request his extradition.".<br />According to the U.S. Attorney's Office for the Southern District of New York (SDNY), the arrest <br />was carried out based on a sealed indictment. .<br />Following news of Bankman-Fried's arrest, the <br />Securities and Exchange Commission (SEC) said it had , "authorized separate charges relating to [Bankman-Fried's] violations of securities laws <br />to be filed publicly tomorrow in SDNY.".<br />The SEC alleges that the former CEO used customer funds for "fraudulent" purposes such as real estate transactions and political donations.<br />CBS News reports that Bankman-Fried has since been taken off the witness list for the House hearing on Dec. 13 regarding FTX's collapse.<br />He will instead <br />appear in court in the <br />Bahamas on that day.<br />Prior to its collapse, FTX was one of the biggest cryptocurrency exchanges in the world. .<br />New CEO John Ray III has been <br />tasked with salvaging the company.<br />Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here, John Ray III, FTX CEO, via statement