The Bahamas Police arrests founder of crypto-currency exchange

Police in The Bahamas have arrested founder of the collapsed crypto-currency exchange FTX, Sam Bankman-Fried,

He is scheduled to appear today in a Magistrates’ Court in the Caribbean country’s capital, Nassau.

Police said Mr Bankman-Fried was arrested for financial offences against laws in the US and The Bahamas.

Last month FTX filed for bankruptcy in the US, leaving many users unable to withdraw their funds.

According to a Court filing last month, FTX owed its fifty largest creditors almost two point five billion euros.