Saturday, March 25, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News FTX collapse

Breaking: The Bahamas Authorities Arrest FTX Founder On Criminal Charges Before U.S. Hearing

news by news
December 13, 2022
in FTX collapse, News, Sam Bankman-Fried
0
Breaking: The Bahamas Authorities Arrest FTX Founder On Criminal Charges Before U.S. Hearing
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Shytoshi Kusama Confirms Unification Addition In Shibarium Docs

Terra Luna Classic Controversial Proposal To Burn 235B LUNC From Community Pool

Sam Bankman-Fried Explains FTX-Alameda Relationship

A day before the disgraced FTX founder was scheduled to appear before the U.S. Congress, the Bahamas authorities arrested Sam Bankman-Fried as the U.S. government filed for criminal indictment.

In a statement on Monday, December 12, Ryan Pinder, the attorney general of the Bahamas, said that they have taken SBF into custody pending an extradition process. Damian Williams, US attorney for the Southern District of New York, further added that federal prosecutors in Manhattan would unseal the case against SBF on Tuesday, and will share more details.

As per the report from the New York Times, the U.S. authorities have slapped SBF with charges of wire fraud. Additionally, the U.S. Securities and Exchange Commission (SEC) has also authorized civil charges related to SBF’s violations of securities laws and money laundering.

Commenting on the development, Bahamian Prime Minister Philip Davis said both countries have “a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law”.

SBF Hearing to Continue As per Schedule

Amid all these developments, House Financial Services Committee Chairwoman Maxine Waters said that the panel is still willing to hold its hearings on the FTX’s collapse. “It’s important for the American public to understand FTX and what was going on,” she said.

The FTX founder has been trying to dodge or delay the hearing saying that he still doesn’t have complete details of the events that led to FTX’s collapse. However, Maxine Waters threatened him with a subpoena which would make it mandatory for him to appear for the hearing.

One of the major allegations against SBF and FTX is that they misused customer funds while lending them out to Alameda Research. Besides, SBF has also admitted to several managerial missteps in the company. However, he says that he never tried to commit fraud or break the law.

Last week, the FBI, prosecutors, Department of Justice officials, and FTX’s new CEO and restructuring expert John Jay Ray III met at SDNY’s headquarters in downtown Manhattan. All these people discussed the potential charges at the meeting.

The post Breaking: The Bahamas Authorities Arrest FTX Founder On Criminal Charges Before U.S. Hearing appeared first on CoinGape.

Related Posts

Shytoshi Kusama Confirms Unification Addition In Shibarium Docs
Altcoin News

Shytoshi Kusama Confirms Unification Addition In Shibarium Docs

March 24, 2023
Terra Luna Classic Controversial Proposal To Burn 235B LUNC From Community Pool
24/7 Cryptocurrency News

Terra Luna Classic Controversial Proposal To Burn 235B LUNC From Community Pool

March 24, 2023
Just In: Gary Gensler Lobbied In UK, Canada For Tightening Crypto Rules
24/7 Cryptocurrency News

Just In: Gary Gensler Lobbied In UK, Canada For Tightening Crypto Rules

March 24, 2023
Coinbase VP Hints At Other Countries Filling ‘Crypto’ Vacuum Left By US
Altcoin News

Coinbase VP Hints At Other Countries Filling ‘Crypto’ Vacuum Left By US

March 24, 2023
Binance Resumes Spot Trading After Temporary Maintenance
Altcoin

Binance Resumes Spot Trading After Temporary Maintenance

March 24, 2023
Breaking: Nasdaq To Offer Crypto Custody Services Soon Despite Regulatory Burden
24/7 Cryptocurrency News

Breaking: Nasdaq To Offer Crypto Custody Services Soon Despite Regulatory Burden

March 24, 2023
Next Post
Disgraced FTX Founder SBF Arrested, Will He Testify Before U.S. Congress?

Disgraced FTX Founder SBF Arrested, Will He Testify Before U.S. Congress?

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Cardano Valentine Upgrade Approaches; ADA Price Rally On The Way?

Cardano Valentine Upgrade Approaches; ADA Price Rally On The Way?

February 10, 2023
You Can’t Miss These Top 5 NFT Drops In February 2023

You Can’t Miss These Top 5 NFT Drops In February 2023

February 1, 2023
JPMorgan Among Big Banks Bidding To Acquire SVB, But There’s A Catch

JPMorgan Among Big Banks Bidding To Acquire SVB, But There’s A Catch

March 13, 2023
Cathie Wood’s Ark Invest Adds Over 150K Coinbase Stock Amid Red Hot Inflation

Cathie Wood’s Ark Invest Adds Over 150K Coinbase Stock Amid Red Hot Inflation

February 25, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In