San Bankman-Fried Denied Bail in the Bahamas on FTX Fraud Charges

• A decide within the Bahamas denied Sam Bankman-Fried bail after he was arrested Monday on fraud costs.
• The previous FTX CEO was remanded into custody till February, in response to experiences.
• US authorities charged him with a number of counts of fraud on Tuesday.

A Justice of the Peace decide within the Bahamas denied FTX founder Sam Bankman-Fried bail throughout a listening to on Tuesday following his Monday arrest on fraud costs. 

The decide mentioned the previous CEO and founding father of the crypto trade platform posed a flight danger and remanded him to custody till February. 

Authorities within the Bahamas detained Bankman-Fried this week appearing on a request from US officers. A US federal legal indictment unsealed on Tuesday charged Bankman-Fried with a number of counts, together with wire fraud, cash laundering, and marketing campaign finance violations.

The Securities and Alternate Fee additionally filed civil costs towards Bankman-Fried on Tuesday, alleging that he duped buyers and defrauded prospects. 

Bankman-Fried informed the court docket he may combat extradition again to the US, in response to Reuters. Bahamian prosecutors had requested he be denied bail if he did so. 

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