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		</div><p>US authorities say the former chief executive of the failed cryptocurrency exchange FTX Sam Bankman-Fried has been arrested in the Bahamas.</p>
<p>The US attorney’s office in New York on Monday said the founder of FTX was arrested at the request of the US government.</p>
<p>Mr Bankman-Fried is under criminal investigation by US and Bahamian authorities following the collapse last month of FTX.</p>
<p>The firm filed for bankruptcy on November 11, when it ran out of money after the cryptocurrency equivalent of a bank run.</p>
<p>“Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the US Government, based on a sealed indictment filed by the United States Attorney’s Office for the Southern District of New York,” US attorney Damian Williams said in a statement.</p>
<p>“We expect to move to unseal the indictment in the morning and will have more to say at that time.”</p>
<p>Bahamian Attorney General Ryan Pinder said the Bahamas would “promptly” extradite Mr Bankman-Fried to the US once the indictment is unsealed and US authorities make a formal request.</p>
<p>FTX is headquartered in the Bahamas and, since its failure, Mr Bankman-Fried has remained in his Bahamian luxury compound in Nassau.</p>
<figure id="attachment_176818" aria-describedby="caption-attachment-176818" style="width: 787px" class="wp-caption alignnone"><img src="https://londonglossy.com/wp-content/uploads/2022/12/4CA2B2D9-2658-4EEE-8468-E056F7127188.jpeg" alt="" width="787" height="531" class="size-full wp-image-176818" /><figcaption id="caption-attachment-176818" class="wp-caption-text">Sam Bankman-Fried founded FTX</figcaption></figure>
<p>Mr Bankman-Fried said recently that he did not “knowingly” misuse customers’ funds, and said he believes his millions of angry customers will eventually be made whole.</p>
<p>Mr Bankman-Fried’s arrest comes just a day before he was due to testify in front of the House Financial Services Committee, along with the company’s current chief executive, John Ray III.</p>
<p>Mr Ray, who took over FTX on November 11 and is a long-time restructuring specialist, has said in court filings that the financial conditions at FTX were worse than at Enron.</p>
<p>Bahamian authorities plan to continue their own investigation into Mr Bankman-Fried.</p>
<p>“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,” said Bahamian prime minister Phillip Davis in a statement.</p>
<p>The US Securities and Exchange Commission said it had authorised separate charges related to alleged violations of securities laws and would file them publicly on Tuesday.</p>
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