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- A judge in the Bahamas denied Sam Bankman-Fried bail after he was arrested Monday on fraud charges.
- The former FTX CEO was remanded into custody until February, according to reports.
- US authorities charged him with several counts of fraud on Tuesday.
A magistrate judge in the Bahamas denied FTX founder Sam Bankman-Fried bail during a hearing on Tuesday following his Monday arrest on fraud charges.
The judge said the former CEO and founder of the crypto exchange platform posed a flight risk and remanded him to custody until February.
Authorities in the Bahamas detained Bankman-Fried this week acting on a request from US officials. A US federal criminal indictment unsealed on Tuesday charged Bankman-Fried with multiple counts, including wire fraud, money laundering, and campaign finance violations.
Bankman-Fried told the court he could fight extradition back to the US, according to Reuters. Bahamian prosecutors had requested he be denied bail if he did so.
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