FTX founder Sam Bankman-Fried charged with fraud, denied bail

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Reuters

By Jared Higgs, Luc Cohen and Chris Prentice NASSAU, Bahamas/NEW YORK (Reuters) -U.S. prosecutors on Tuesday accused Sam Bankman-Fried, the founder of crypto currency exchange FTX, of fraud and violating campaign finance laws and a judge in the Bahamas denied him bail, sending him to a local correctional facility instead. The former FTX CEO, who was arrested in the Bahamas on Monday, lowered his head and hugged his parents after the magistrate judge refused bail citing a “great” risk of flight. He was ordered remanded to a correctional facility in the island nation until Feb. 8, where he will …

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