On Thursday, Sam Bankman-Fried landed in New York after he was transferred to FBI custody. He will face charges of wire fraud, securities fraud, money laundering, and a campaign finance violation.
The US attorney for the Southern District of New York, Damian Williams, on Wednesday posted a video on Twitter in which he said that Bankman-Fried's associates Caroline Allison, formerly head of Alameda Research, and FTX co-founder Gary Wang pleaded guilty to defrauding investors who invested in the cryptocurrency trading platform.
Bankman-Fried Arrest: FTX Founder May Know Whether Foreign Money Flew Into US Politics, Analyst Says
13 December 2022, 18:57 GMT
Last week, the US Department of Justice announced charges against the 30-year-old Californian, who is being held at a prison in the Bahamas. He is accused of conspiring to defraud crypto investors of billions of dollars in a scheme that allegedly led to FTX's downfall last month.
According to reports, Bankman-Fried told a judge in the Bahamas on Wednesday that he had agreed to be extradited.
The US Attorney's Office for the Southern District of New York's Securities and Commodities Fraud Task Force is handling the case. The charges against Bankman-Fried could land him in prison for up to 115 years. He has denied any wrongdoing.