Sam Bankman Fred, founder of FTX, is arrested in the Bahamas

Former FTX CEO Sam Bankman-Fried has been arrested in the Bahamas, according to a statement from the Royal Bahamas Police Force.

The statement said Bankman Fried, also known as SBF, was arrested after “receiving formal notification from the United States that they have filed charges against SBF and will likely seek his extradition.”

The US Attorney’s Office for the Southern District of New York confirmed the request in a statement via Twitter: “Earlier this evening, Bahamas authorities arrested Samuel Bankman Fried at the request of the US Government, based on a sealed indictment filed by SDNY. We expect action to dismiss charges in the morning.” And we’ll have more to say at that time.”

This story is developing and will be updated.

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