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FTX Founder Sam Bankman Fried Lands in US to Face Charges

Written by Abdullah Shahid ·  1 min read >
Sam Bankman Fried arrives US
Extradited on suspicion of committing “one of the biggest financial frauds”, FTX founder Bankman landed in Newyork today

Founder and the ex CEO of FTX crypto exchange, Sam Bankman Fried has finally been brought back to the US from Bahamas. Extradited on suspicion of committing “one of the biggest financial frauds in US history”, Bankman was running his company from the Bahamas for a long time now.

The 30 year old Bankman has denied all allegations made in the court up until now, his former associates however have pleaded guilty to the charges. Bankman will now be brought in front of the court again on Thursday.

Former associates who have pleaded guilty are named Gary Wang and Caroline Ellison, both of whom headed FTX’s cryptocurrency trading firm Alameda Research. According to Damian Williams, attorney for the Southern District of New York, the two business associates were charged with “roles in the frauds that contributed to FTX’s collapse.”

The lawyer appointed by Gary Wang spoke on the situation and said that his client has accepted all responsibility for his actions and has seriously accepted his obligation as a witness.

“Samuel Bankman-Fried is now in FBI custody and is on his way back to the United States. He will be transported directly to the Southern District of New York and he will appear in court before a judge in this district as soon as possible.” said Damian Williams

“If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. We are moving quickly and our patience is not eternal.” he added.


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