Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, is in FBI custody and en route from the Bahamas to New York City to face federal fraud charges tied to FTX's collapse, Manhattan U.S. Attorney Damian Williams said Wednesday night.
Bankman-Fried has indicated he will plead not guilty to the eight criminal charges filed against him. But Williams also announced in his video message that two of Bankman-Fried's top associates, Caroline Ellison and Gary Wang, secretly pleaded guilty to similar charges and "are both cooperating with the Southern District of New York."
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