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Bahaman Authorities Arrest Sam Bankman-Fried

Attorney General Ryan Pinder announced that the country is expecting the United States to request the extradition of Sam Bankman-Fried.

Tim Fries
Tim Fries Tim Fries is the cofounder of
Dec 13, 2022 2 min read
Handcuffs and wooden gavel. Crime and violence concept.
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On December 12th, Royal Bahamas Police Force arrested FTX’s former CEO Sam Bankman-Fried. According to the Office of the Attorney General, the United States filed criminal charges against the disgraced founder, and the Bahamas are expecting a request for extraction.

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Sam Bankman-Fried Arrested in the Bahamas

According to the Attorney General’s Office, Bahaman police received a notice from the United States that it had pressed criminal charges against Sam Bankman-Fried, the former CEO of FTX. Due to this information, the country’s authorities decided it was “appropriate” to arrest SBF.

The island nation is expecting the US to soon request the extradition of Bankman-Fried.  The United States confirmed the charges. The indictment is expected to be unsealed on the morning of December 13th.

The arrest was made in the afternoon of December 12th, a day before FTX’s former CEO was scheduled to testify before the House Financial Services Committee, albeit remotely.  Earlier on December 12th, the testimony of FTX’s current CEO, John J. Ray III—in which he describes the failures of the company’s previous management, and explains the plans for the future of the company—was also published. 

Last week, the Chairwoman of the House Financial Services Committee Maxine Waters was criticized for simply calling SBF’s presence in Washington “imperative” and not pursuing his testimony before Congress more aggressively. Additionally, today’s arrest represents the first concrete move by authorities in the Bahamas since filing their own chapter 15 bankruptcy for FTX.

This is a breaking story and will be updated when new details emerge.

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When will SBF be extradited to the United States? Tell us what you think in the comments below.

Bahamas FTX FTX collapse SBF SBF arrested
Tim Fries

Tim Fries

Author · Tokenist

Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.

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