FTX founder Sam Bankman-Fried arrested on the Bahamas

Sam Bankman-Fried, the former managing director of the bankrupt crypto exchange FTX, was arrested on the Bahamas.

The Bahamas, Ryan Pinder's attorney, said that the country's police arrested the crypto-tycoon, who had fallen unexpectedly, after receiving a "formal notification" from the United States that she had filed a criminal complaint.

The USA will "probably apply for its delivery," added Pinder in a statement. The US authorities could not be achieved immediately for a statement.

Damian Williams, the US public prosecutor for the southern district of New York, confirmed the arrest at Twitter .

Williams said that Bankman-Fried was “on request from the US government”, based on an indictment that would be sealed on Tuesday morning.

In response to Bankman-Fried's arrest, the Bahama-based Prime Minister Philip Davis said that the Caribbean nation and the United States had a "common interest in folding out all people associated with FTX who may have misused the public's trust and broke the law".

The Prime Minister said that the Bahama authorities would continue their own official and criminal investigations to collapse FTX.

ftx was headquartered on the Bahamas. The arrest of Bankman-Fried was announced a day before his planned statement before the Financial Service Committee of the US House of Representatives in a hearing on the collapse of the FTX.

This is a developing story. Further follow