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Former FTX CEO Sam Bankman-Fried Arrested in Bahamas After U.S. Files Criminal Charges

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Sam Bankman-Fried, the founder and ex-CEO of the recently bankrupted crypto trading firm FTX was arrested in the Bahamas after the U.S. Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, MacKenzie Sigalos and Rohan Goswami report for CNBC.

According to legal experts, Bankman-Fried could face life in prison without the possibility of supervised release if the federal government seeks wire or bank fraud charges. In addition, the Securities and Exchange Commission filed a civil complaint against Bankman-Fried, alleging that he led a scheme to defraud FTX investors, netting Bankman-Fried over $1.8 billion.

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