Business Insider USFTX founder and disgraced former CEO, Sam Bankman-Fried will be held in Bahamian prison without bail.A Bahamian judge denied FTX founder Sam Bankman-Fried's request to be let out on bail.
CoinDesk reported Bankman-Fried's lawyers asked the judge at a court hearing in the Bahamas on Tuesday to consider releasing him on $250,000 bail. Bankman-Fried's lawyer, Jerome Roberts, said the FTX founder is not a flight risk because he owns real estate in the Bahamas, CoinDesk reported.
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Sam Bankman-Fried charged and accused of 'orchestrating a massive, years-long fraud' | Business InsiderThe US Securities and Exchange Commission accused Bankman-Fried of diverting billions of FTX's customer funds for 'his own personal benefit and to help grow his crypto empire.'
Source: BISouthAfrica - 🏆 34. / 51 Read more »
International Finance: Sam Bankman-Fried arrested in Bahamas as US files FTX chargesThe disgraced co-founder of digital-asset exchange FTX was arrested in the Bahamas after the US government filed a criminal indictment, following weeks of speculation that client funds were misused before his empire’s collapse. Mmm 🤔🤔 - convenient. Couldn't have SBF mouthing off before House Republicans in less than 3 weeks. Possibly been lawyered up and well looked after as second largest donor to Dems in mid terms. Regime looking after their asset? Asking for a friend. What do u mean weeks of speculation? Client funds are gone, stolen ... Clients are not wondering if the money has been misused, they know for a fact cos it's not there... Ay man
Source: dailymaverick - 🏆 3. / 84 Read more »