According to local sources, on Dec. 13, crypto executive Sam Bankman-Fried's (SBF) lawyers have requested bail in a Bahamas' Magistrate Court <a href="https://cointelegraph.com/news/ftx-founder-sam-bankman-fried-arrested-and-in-custody-attorney-general">after his arrest</a> on Dec. 12 pending extradition request by U.S. authorities. The move comes after presiding judge Chief Magistrate JoyAnn Ferguson-Pratt stated earlier today that SBF had the right to request bail.

Sam Bankman-Fried (SBF), the disgraced founder and former CEO of bankrupt FTX, has continued to blame Changpeng Zhao (CZ), of Binance, for the downfall of FTX despite reports that confirm SBF mismanaged users’ funds.

The <a href="https://coingape.com/tag/ftx/">FTX</a> founder has found himself in a whirlwind of federal indictments today, with the Securities And Exchange Commission charging <a href="https://coingape.com/tag/sam-bankman-fried/">Sam Bankman-Fried</a> with defrauding investors by using billions of dollars of customer funds for undisclosed venture capital and now also by the Manhattan federal court where SBF has been charged with conspiracy to commit wire fraud.

The Bahamas liquidators are seeking to exclude over $200 million worth of luxury properties in the country from the estate of FTX, as the bankrupt crypto exchange seeks to wind up and repay creditors in the U.S., court documents filed on Monday revealed.

The United States Government has finally filed formal charges against the ex-chief of the now-defunct and discredited FTX. Since the very time FTX filed for bankruptcy, it has been under the scanner of the US authorities. These were the innocent persons who seemingly had burnt their fingers due to his fraudulent activities. They wanted their pound of flesh and fast.

FTX CEO John Ray III Dec. 13 testimony to the U.S. Congress revealed that the bankrupt exchange commingled assets and stored wallets’ private keys without encryption.

The former billionaire, Sam Bankman-Fried (Founder and former CEO of FTX), was arrested on Monday in the Bahamas based on criminal charges filed in the United States, announced the Office of the Attorney General of The Bahamas.

After weeks of speculation, the U.S. Department of Justice has officially filed criminal charges against Sam Bankman-Fried, the former CEO and founder of FTX. Bankman-Fried was arrested on Monday in the Bahamas related to charges by U.S. officials.

Following the collapse of FTX and its bankruptcy filing on Nov. 11, $73 million worth of its political donations are currently at risk of being recalled to repay the failed exchange’s creditors, according to a report by Bloomberg.

Disgraced FTX co-founder Sam Bankman-Fried (SBF) has been arrested in The Bahamas, according to local reports citing the country’s attorney general Ryan Pinder. According to Pinder, SBF’s arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.”