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FTX founder Sam Bankman-Fried remains in jail in Bahamas

FTX founder Sam Bankman-Fried remains in jail in Bahamas

Nassau, Dec 20 (Prensa Latina) Sam Bankman-Fried, wanted in the United States for fraud after the collapse of his FTX cryptocurrency group, remained in a Bahamas prison after an abortive court hearing that was to consider his possible extradition.

The U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) filed criminal and civil charges for Bankman-Fried, alleging he misled FTX investors and misappropriated funds belonging to the firm’s clients.

Bankman-Fried was seen arriving at the Nassau magistrate court from the Fox Hill prison, and then leaving nearly three hours later without immediate comment from him or his attorneys.

According to the Nassau Guardian website and Eyewitness News channel, Bankman-Fried is charged in the United States with eight counts, including conspiracy, wire fraud, money laundering and election finance violations.

Bahamas-based FTX rose dramatically from 2019 to become one of the worlds major cryptocurrency group.

Back in November, FTX and its trading firm Alameda Research filed for insolvency.

Bankman-Fried was arrested at his Nassau apartment last December 12 at the request of the U.S. Attorney’s Office in New York.

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