SBF Arrested In Bahamas

December 13, 2022 Story- Divya Sinha

Former FTX CEO Sam Bankman-Fried got arrested in the Bahamas at the behest of U.S. prosecutors.

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According to the NYT's sources, SBF faces a list of charges including wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering.

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The arrest is out of grace for the 30-year-old entrepreneur, widely known by his initials SBF.

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Before the FTX collapse, SBF was among one of the richest people in the crypto industry.

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He launched FTX in 2019 which then grew it into one of the leading exchanges for buying and selling crypto derivatives.

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As of early 2022, investors valued FTX and its U.S. operations together at $40 billion.

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After the FTX debacle, SBF in an interview said that he is left with only one working credit card and $100,000 in the bank account.

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