Sam Bankman-Fried, the founder of failed crypto exchange FTX, was arrested in the Bahamas on Monday following charges filed in the United States. The U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney for the Southern District of New York issued a statement alleging that Bankman-Fried had defrauded investors. The Royal Bahamas Police Force took Bankman-Fried into custody at the behest of U.S. prosecutors and is expected to extradite him.
Bankman-Fried was scheduled to testify remotely today to a U.S. House of Representatives committee that is investigating the fall of FTX.
