According to the New York Times, the charges could include wire fraud, securities fraud, money laundering, and related conspiracy charges.
The U.S. Securities and Exchange Commission also plans to bring charges, a statement from Enforcement Director stated.
"We commend our law enforcement partners for working to secure the arrest of Mr. Sam Bankman-Fried in the Bahamas on federal criminal charges," he said. "The Securities and Exchange Commission has separately authorized charges relating to Mr. Bankman-Fried’s violations of our securities laws, which will be filed publicly tomorrow in the Southern District of New York."
In the Bahamas' statement, Bahamas Prime Minister Philip Davis said the country would continue pursuing its own investigation into FTX's collapse alongside the U.S.'s criminal charges.
FTX filed for bankruptcy just over a month ago. Its new Bankruptcy CEO, John J. Ray III, said in court filings and prepared Congressional testimony that he had never seen anything quite like the corporate governance and documentation failures that he found at FTX.
Among other issues, he found that FTX had heavily commingled customer and corporate assets, losing billions along the way. In his prepared remarks, published earlier, he said his new team had managed to secure about $1 billion of company assets to date.
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