Former FTX CEO Sam Bankman-Fried Arrested in Bahamas for Fraud: Complaint
December 13, 2022
Embattled FTX co-founder Sam Bankman-Fried has been arrested in the Bahamas. The U.S. Attorney’s office made the announcement on Twitter. The complaint alleged he orchestrated a scheme to defraud investors in his crypto exchange between 2019 and November 2022, when he stepped down as CEO. Prosecutors allege Bankman-Fried raised more than a billion dollars from U.S. investors and diverted those funds to his privately owned crypto hedge fund. Inside Edition Digital’s Mara Montalbano has more.
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