Bankman-Fried Accused of Fraud by US After Bahamas Arrest
- Prosecutors say he led a multi-year scheme against investors
- He faces extradition from the Bahamas where he is under arrest
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Sam Bankman-Fried, the disgraced co-founder of digital-asset exchange FTX, was accused by US authorities on Tuesday of perpetrating a massive fraud that funded his lavish lifestyle.
US prosecutors in Manhattan revealed eight criminal counts against him and federal regulators said he committed a range of securities and derivatives law violations. Bankman-Fried, who had been living in an expansive penthouse in the Bahamas, was arrested there on Monday evening.