Maxine Waters, chairwoman of the committee, said Bankman-Fried would no longer give testimony as scheduled Tuesday. Several crypto companies have halted operations, freezing customer accounts and in some cases filing for bankruptcy themselves because of their exposure to FTX.Īfter his arrest, Rep. US lawmakers set to grill Sam Bankman-Fried on the collapse of FTXīankman-Fried was scheduled Tuesday to appear virtually before the US House Financial Services Committee, which is demanding answers about how the company came crashing down, ricocheting throughout the digital asset ecosystem. Jabin Botsford/The Washington Post/Getty Images I was certainly not nearly as competent as I thought I was.”Ĭhief Executive Officer of FTX Trading Limited Sam Bankman-Fried speaks during a House Committee on Financial Services | Full Committee Hearing titled Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States on Capitol Hill on Wednesday, Dec. “I didn’t knowingly commit fraud,” he told the BBC over the weekend. In the four weeks since FTX filed for bankruptcy, Bankman-Fried has sought to cast himself as a somewhat hapless chief executive who got out over his skis, denying accusations that he defrauded FTX’s customers. The United States’ extradition treaty with the Bahamas allows US prosecutors to return defendants to American soil if the charges would be considered punishable by imprisonment of at least a year in both jurisdictions. The New York Times, citing a person familiar with the matter, reported that the charges against Bankman-Fried included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. It’s unclear what charges await Bankman-Fried, the 30-year-old crypto celebrity who became a pariah overnight last month as his company suffered a liquidity crisis and filed for bankruptcy, leaving at least a million depositors unable to access their funds. Shortly after the SDNY confirmed his arrest, the Securities and Exchange Commission said it had authorized separate charges relating to Bankman-Fried’s “violations of securities laws,” which will be filed publicly on Tuesday. Known as “SBF,” Bankman-Fried is a crypto celebrity who became a pariah overnight as his company suffered a liquidity crisis and filed for bankruptcy last month, leaving at least a million depositors unable to access their funds.Ī representative for Bankman-Fried’s legal team didn’t immediately respond to CNN’s request for comment. “We expect to move to unseal the indictment in the morning and will have more to say at that time.” “Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the US government, based on a sealed indictment filed by the SDNY,” wrote US attorney Damian Williams. The Southern District of New York, which is investigating Bankman-Fried and the collapse of FTX and its sister trading firm Alameda, confirmed his arrest on Twitter. It seems like even the world of cryptocurrency isn’t immune to a touch of the dramatic.Sam Bankman-Fried, the founder of failed crypto exchange FTX, was arrested in the Bahamas on Monday after US prosecutors filed criminal charges against him, according to a statement from the government of the Bahamas. So, the next time you think about trading crypto for cash with strangers on Telegram, maybe consider using a bit of extra caution and leave the kitchen knives at home. When confronted in a robbery, members of the public should remain calm, take note of the physical appearance and distinctive features of the perpetrator, and call for the police as soon as possible.” “Members of the public are advised not to carry large amounts of cash with them in public. In light of this peculiar crypto caper, the police issued a piece of advice to the public: Meanwhile, investigations into the 27-year-old man’s involvement are ongoing. The 33-year-old man and the 16-year-old whirlwind of trouble are set to face charges in court today for their roles in the conspiracy to commit robbery. A 33-year-old man was nabbed near Circuit Road, while a 27-year-old man was apprehended along Ang Mo Kio Avenue 9, completing the trio of suspects. Through ground inquiries and the ever-watchful eye of police cameras, the authorities uncovered the identities of two more individuals believed to be involved in the conspiracy. The money was fully recovered, making this a failed caper for the teenage bandit. With their help, the teenager was detained and promptly handed over to the police. However, the knife proved to be too much to handle, slipping from the teenager’s grasp.Įnter two men and one woman, who just happened to be in the right place at the right time. He brandished a kitchen knife, adding a cinematic flair to this unexpected Saturday showdown. The teen, however, wasn’t ready to surrender without a fight.
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