Sam Bankman-Fried was arrested in the Bahamas one month after FTX’s collapse

Bahamian authorities confirmed SBF’s arrest

Williams’ announcement was preceded by a notice from the Bahamian authorities confirming the arrest:

“The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere”

After FTX filed for Chapter 11 protection, new CEO John Ray III bashed the company’s mismanagement in a court filing. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” wrote Ray, who led Enron through its bankruptcy proceedings.

Bankman-Fried had been scheduled to testify before the US House of Representatives on Tuesday, Dec. 13.

This story is breaking and will be updated with new developments.