Former CEO of FTX, Sam Bankman-Fried was arraigned in court before Chief Magistrate, Joyann Ferguson-Pratt. Bankman-Fried has been been charged with various counts of fraud in the United States in relation to the collapse of his company. Attorney General, Ryan Pinder released a statement explaining that the United States will be seeking to have Bankman-Fried extradited. He was arrested on Monday evening by officers of the Royal Bahamas Police Force.
Chief Magistrate Ferguson-Pratt denied bail for Bankman-Fried citing his access to large sums of money and private planes made him a flight risk. Bankman-Fried was remanded to the Bahamas Department of Corrections until February 2022.
