🚨 BREAKING: SBF is now being held in custody, and The Bahamas are anticipating that the U.S. will submit an extradition request.
The U.S. has filed criminal charges against the 30-year-old — and reports suggest they include wire fraud, securities fraud and money laundering.
In a sign that the former CEO could face further charges, a statement from SEC enforcement director Gurbir Grewal said: Some reports suggest up to $8 billion in customer funds could be missing, amid allegations that were improperly lent to sister trading firm Alameda Research. Committee Chairwoman Rep. Maxine Waters has said she was "surprised" to hear that Bankman-Fried has been taken into custody, and had received confirmation from his lawyers that he was still planning to testify just hours earlier.
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