2022-12-15
Sam Bankman-Fried got arrested in the Bahamas. US authority charged him with criminal and financial frauds. He was arrested on
Monday December 12, 2022 by the Bahamas police.
Bahamas
Chief Magistrate JoyAnn Ferguson-Pratt denied the petition for his release on
bail, she was saying that Bankman-Fried has a great risk of flight, and ordered
to imprison him at a correctional facility until 8 February.
Information from court filing shows that FTX owe creditors almost $3.1 billion to
its 50 largest creditors. The most serious allegation is he used FTX’s customer
funds to trade and invest for Alameda Research, another company own by Bankman-Fried.
Bankman-Fried is facing criminal charges of fraud and civil charges
because he lured investors to invest $1 billion into FTX.
