The disgraced founding father of collapsed cryptocurrency change FTX, Sam Bankman-Fried has been arrested within the Bahamas.
In a press release, the legal professional normal of the Bahamas, says: “SBF’s arrest adopted receipt of formal notification from the USA that it has filed prison prices in opposition to SBF and is more likely to request his extradition.”
He’s scheduled to look in a magistrates’ court docket right now within the Caribbean nation’s capital, Nassau.
FTX filed for chapter final month, leaving its fifty largest collectors $3.1 billion out of pocket.
A poster little one for the cryptocurrency motion, Bankman-Fried’s fall from grace has been sudden and dramatic.
A report by newly-installed FTX CEO John Ray final month, blasted his predecessor for “a whole failure of company controls and a whole absence of reliable monetary info”.
The brand new CEO additionally warned {that a} “substantial portion” of property held with FTX could also be “lacking or stolen” and divulges that company funds have been “used to buy properties and different private gadgets for workers and advisors”.
The SEC’s director of enforcement, Gurbir S. Grewal, welcomed the information from the Bahamas: “We commend our regulation enforcement companions for working to safe the arrest of Mr. Sam Bankman-Fried within the Bahamas on federal prison prices. The Securities and Alternate Fee has individually authorised prices referring to Mr. Bankman-Fried’s violations of our securities legal guidelines, which will likely be filed publicly (Tuesday) within the Southern District of New York.”
Previous to his arrest Bankman-Fried was scheduled to testify right now earlier than the US Home of Representatives Committee on Monetary Providers. In accordance with a replica of his testimony obtaind by Forbes, he was to start his handle with the phrases: “I fucked up.”
Ghana
In the meantime, in Ghana, some crypto buyers and merchants who have been caught in FTX chapter net, nonetheless have their moneys locked in between two monetary establishments (names to be revealed quickly). One of many establishments is regulated whereas the opposite is just not even licensed in Ghana.
However just a few of the victims have managed to retrieve their moneys from at the least one of many two monetary establishments.
Techgh24 is conscious that the FTX Africa crew are engaged on investing depositors funds in different ventures as a substitute of returning their moneys to them. In the meantime, Financial institution of Ghana is monitoring occasions in that area, regardless that the area is just not regulated.
