Cryptocurrency platform FTX has earlier filed for bankruptcy, and FTX founder Sam Bankman Fried has been arrested in the Bahamas as U.S. federal prosecutors have filed charges in New York. He may be extradited to New York for trial.

The New York Times, citing sources familiar with the matter, said Freed would face multiple counts of wire fraud, conspiracy to commit wire fraud, securities fraud, conspiracy to commit securities fraud, and money laundering.

Video Credit: Forbes

FTX founder may be extradited to the U.S. for trial

Ftx Founder
Image Credit: Udn

The Bahamas Ministry of Justice has confirmed that it has been informed that the United States has filed a criminal charge against FTX founder Sam Bankman Fried and that an extradition request may follow to extradite him.

The Bahamas Attorney General’s Office said that according to the notices and information received by the authorities, there was nothing improper about the arrest of Sam Bankman Fried.

The 30-year-old Sam Bankman Fried was once seen as a genius in the cryptocurrency industry, attracting more than 80 investors to invest nearly US$2 billion (RM8.854.83 million) in FTX in just two years and making him billions of dollars. wallets were locked and their funds could not be retrieved.

In an interview with the New York Times, FTX founder Sam Bankman-Fried confessed that he “screwed up” but insisted that he did not try to commit fraud and that he should not be held criminally liable for FTX’s bankruptcy filing.

Video Credit: Fox News

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