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The Royal Bahamas Police Force arrested FTX founder Sam Bankman-Fried, a press statement said.
The arrest came after the U.S. filed criminal charges against Bankman-Fried, the statement said, and the nation expects the U.S. to request The Bahamas extradite Bankman-Fried in short order.

https://www.coindesk.com/policy/2022/12/12/ftx-founder-sam-bankman-fried-arrested-bahamas-says/

https://twitter.com/SDNYnews/status/1602451395910803457


https://i.imgur.com/2VqmyVP.png

This news have been long expected. Sam Bankman-Fried even acknowledge in one of his interviews that he was expecting his arrest and persecution. The former FTX boss have many questions to answer and I am glad the government of The Bahamas is giving the United States all the corporation and assistance they need. They are considering extraditing him to the US to face criminal charges.

It is a welcome development to see that SBF would be held responsible for his financial recklessness, but investors might never get their money back. Sam claimed that FTX has enough funds to pay all its US customers but investors or clients from other country might never get their money back because their funds are not under his control.
 

Let's see what happen next... He will probably try to cut a deal somehow with the government at this point. I can't wait to get more news about it!

Finally...

At last. People, especially victims, have been waiting for this. It was even a puzzle at first why this man is allowed to roam around and even fly to the US without authorities putting handcuffs on him. So this is it. Samuel Bankman-Fried deserves this. However sorry he may be, he will have to face the legal repercussions of his actions, his irresponsibility in handling large amounts of money entrusted to him by his clients. I hope Do Kwon, who is just found in Serbia, will also be arrested soon.

No surprise at all.

I mean he committed a fraud obviously and his explaining tactics, interview tactics didn't work at all. Kudos to Coffeezilla still for that final interview that he made with SBF because that might be the missing piece that the authorities have been waiting for. SBF admitting that he committed fraud.

The CEO got arrested but the funds are still gone. I don't know how the investors will feel about this one especially for those who lost a huge amount of money. Now let's wait for the Part 3 of this FTX drama :D.

he was suppose to testify remotely tomorrow.. i guess they want to see him physically

Among the most talked about scandals of the time, the FTX scam and bankruptcy is one of the most talked about and hated events.  FTX founder CEO Samuel Bankman-Fried was directly involved in the November Chapter 11 scandal.  He is directly involved in the embezzlement of the equivalent of $40 billion, according to various accounts.  His subsidiary Amaleda Research has admitted involvement in the same crime.  He was taken into police custody on Monday and will remain in police custody pending further arraignment and questioning.

https://i.imgur.com/5kj1dy9.jpg

The most awaited session to watch for someone in crypto. There were also reports that CZ is also in trouble and he is the next to be extradited since he seems to be accused to have done the same as what SBF did.

So the US after all can extend its hands to arrest someone from that place. I guess they can also do it in Panama where there are more financial criminals.

Now it's time to go after that female his co-assistant that is just as bad and evil as he is