Embattled cryptocurrency mogul and former FTX CEO Sam Bankman-Fried was arrested within the Bahamas after being criminally charged by US prosecutors. US officers have been searching for to cost Bankman-Fried after the spectacular collapse of his FTX platform.

The arrest comes on the eve of Bankman-Fried’s scheduled look at a US Congress listening to wherein he was to testify beneath oath concerning the crypto trade’s in a single day demise.

“Earlier this night, Bahamian authorities arrested Samuel Bankman-Fried on the request of the US Authorities, based mostly on a sealed indictment filed by the southern district of New York,” mentioned a tweeted assertion from Damian Williams, lead prosecutor for the district.

“We anticipate to maneuver to unseal the indictment within the morning and may have extra to say at the moment,” he added.