Sam Bankman-Fried is denied bail in the Bahamas

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Illustration: The Verge

Sam Bankman-Fried, founder and former CEO of FTX, was denied bail on Tuesday after a Bahamian judge deemed him a flight risk, according to Reuters. An extradition hearing is scheduled for February 8th.

Bankman-Fried, nicknamed “SBF,” was arrested in the Bahamas Monday evening after US prosecutors informed the Bahamas of sweeping criminal charges expected to be filed against the disgraced crypto darling. In an unsealed indictment Tuesday, prosecutors at the Justice Department’s Southern District of New York charged Bankman-Fried with eight counts of fraud, including lying to investors and violating US campaign finance law.

Earlier on Tuesday, Bankman-Fried appeared before a Bahamas court in his first public appearance since FTX’s November…

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Author: Makena Kelly