Sam Bankman-Fried, the disgraced co-founder of digital-asset exchange FTX, was arrested in the Bahamas after the U.S. government filed a criminal indictment, following weeks of speculation that client funds were misused before his empire¡¯s collapse.
Bankman-Fried is being held in custody pending an extradition process, the island nation¡¯s attorney general, Ryan Pinder, said in a statement Monday.
Federal prosecutors in Manhattan plan to unseal the case against him Tuesday morning, ¡°and will have more to say at that time,¡± Damian Williams, U.S. attorney for the Southern District of New York, said in a separate statement. He didn¡¯t elaborate on the allegations.
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