Sam Bankman-Fried, the deposed “King of Cryptocurrencies”, was arrested in the Bahamas after being prosecuted by US prosecutors. The government of the island complex had announced that the US “is expected to request his extradition”.
The arrest is the latest dramatic development in one of the most dramatic divestments in modern corporate history, the New York Times. The 30-year-old was scheduled to testify before Congress on Tuesday about the collapse of the FTX cryptocurrency exchange.
Prosecutors in New York confirmed that he has been charged and the indictment will be released today.
The 30-year-old was arrested shortly after 6:00 Monday afternoon at his Albany Resort apartment complex, and is expected to appear in Nassau Magistrates’ Court today.
Source: News Beast
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