BREAKING: SBF Denied Bail in Bahamian Court

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NASSAU, BAHAMAS – Former FTX CEO Sam Bankman-Fried has been denied bail in a Bahamian court, and will be remanded to the Bahamas Department of Corrections until February 8, 2023.

COURT UPDATE: Sam Bankman-Fried has been denied bail. He has been remanded to Bahamas Department of Corrections until February 8.

— Our News Bahamas (@Our NewsRev) December 13, 2022

Bankman-Fried arrived at the South Street Court Complex Tuesday morning, in a police caravan.

SAM BANKMAN FRIED COURT UPDATE – Prosecutors are arguing that bail should not be considered. And they are arguing that he’s a flight risk.

But his lawyers are saying he is not a flight risk. He is a permanent resident here. Lives here and owns property here.

— Our News Bahamas (@Our NewsRev) December 13, 2022

SBF was arrested in Nassau, Monday, according to the Office of the Attorney General.

Responding to SBF’s arrest, Prime Minister Philip Davis stated, “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law.

“While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.”