Sam Bankman-Fried Arrested in the Bahamas, Will Be Extradited to the U.S.

Sam Bankman-Fried, the former CEO of the collapsed crypto firm FTX, was arrested in the Bahamas on Monday after the United States Department of Justice revealed it has filed criminal charges against him. Last week, he agreed to testify before Congress about the downfall of his company, which is currently in bankruptcy proceedings. The company lost billions in customer funds and is alleged to have funneled clients’ money to a firm called Alameda Research, a cryptocurrency trading company.

RELATED: ‘Old-fashioned embezzlement’: Bankman-Fried charged with fraud, making illegal campaign donations

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