Bankman-Fried was taken into custody at 6 p.m. on Monday, after being arrested at his apartment in the luxury Albany community by the Royal Bahamas Police and members of its financial crimes unit.
Ryan Pinder, the Bahamas’ attorney general and minister of legal affairs, said in a statement Monday that the arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.” Pinder did not respond to a request for comment.
On Tuesday, the U.S. Securities and Exchanges Commission, Commodity Futures Trading Commission and Southern District of New York issued charges broadly alleging that Bankman-Fried conspired to defraud FTX customers and lenders by devising schemes for misusing funds while simultaneously marketing the exchange as a safe choice for cryptocurrency trading.
An extradition treaty has existed between the U.S. and the Bahamas since 1931, and states that if the subject of a request “agrees in writing to be surrendered to the Requesting State after being advised by a competent judicial authority of his right to formal extradition proceedings, the Requested State may surrender the person without formal proceedings.”
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