Prosecutors have announced that FTX founder Sam Bankman-Fried has been arrested by the Royal Bahamas Police Force following a request from the United States which filed criminal charges against Bankman-Fried. The Bahamas expect the United States to quickly move to extradite the crypto billionaire.

“As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act,” the statement, attributed to Attorney General Ryan Pinder, said. “At such time as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligations with the United States.”

U.S. Attorney’s Office for the Southern District of New York confirmed the breaking news of Bankman-Fried arrest.

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