Sam Bankman-Fried, the disgraced co-founder of digital-asset exchange FTX, was accused by US regulators of orchestrating a multi-year fraud against investors — one that helped support his lavish lifestyle.
Bankman-Fried, who had been living in an expansive penthouse on the island, was arrested on Monday evening in the Bahamas after US prosecutors filed a criminal indictment. The arrest followed weeks of speculation about the possible misuse of client funds. He’ll be arraigned in the island nation on Tuesday, and faces an extradition process once federal prosecutors in Manhattan unseal their charges.
Bankman-Fried’s attorney, Mark Cohen …
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