SBF has finally been charged with a crime and will be extradited to the United States, where he will face separate accusations from the SEC.
The worst is still to come for Sam Bankman-Fried, the disgraced founder of crypto exchange FTX.
The United States Securities and Exchange Commission (SEC) said on December 12 that it is prepared to bring charges against Sam Bankman-Fried that are different from the ones that led to his most recent detention in The Bahamas.
On December 12, the SEC issued a post on Twitter quoting its division of enforcement head Gurbir Grewal, indicating that the agency had “approved separate charges pertaining to his breaches of securities laws.”
Grewal said that the charges would be made public “tomorrow,” on December 14, in the Southern District of New York (SDNY).
The SEC’s notification came only hours after Sam Bankman-Fried was arrested in The Bahamas on December 12.
Senator Ryan Pinder, the Bahamas’ Attorney General, said in a statement that the arrest came after the Bahamas received official information from the US that it had filed criminal charges against SBF and would likely seek his extradition.
The accusations have not yet been verified in full, but they are believed to be related to wire and securities fraud, conspiracy to conduct wire and securities fraud, and money laundering.
Grewal praised the SEC’s “law enforcement partners” for achieving Bankman-arrest Fried’s on federal criminal charges in his most recent statement.
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