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Crypto
FTX Co-Founder Sam Bankman-Fried Charged With Fraud

The ex-CEO of the collapsed crypto exchange is charged with eight counts of fraud in the US. He'll likely face extradition from the Bahamas.


Sam Bankman-Fried, the co-founder and former CEO of collapsed crypto exchange FTX, was arrested Monday in the Bahamas, the attorney general's office for the Bahamas said in a statement.

The arrest came after the US government notified the office that it had filed criminal charges against Bankman-Fried and would likely seek extradition, the Bahamas AG office said.

Damian Williams, the US Attorney for the Southern District of New York, confirmed Monday's arrest and unsealed the 14-page indictment Tuesday. Bankman-Fried faces eight counts of conspiracy and criminal activity related to wire fraud, commodities fraud, securities fraud, money laundering and violation of campaign finance laws.

Separately, the US Securities and Exchange Commission filed civil charges on Tuesday against Bankman-Fried for allegedly violating securities law and "orchestrating a scheme to defraud equity investors in FTX Trading Ltd."