In recent days it's become clear that crypto's one-time golden boy, Sam Bankman-Fried, did not just disappoint his investors and customers at bankrupt FTX, but that he may have broken the law. There are reports federal prosecutors in Manhattan are preparing criminal charges and that U.S. authorities have been in talks with their counterparts in the Bahamas—where SBF is still holed up—to bring him stateside for questioning.
At this point, it feels inevitable Bankman-Fried will be charged—especially after FTX's new CEO submitted a court filing decrying a total lack of financial or ethical controls at the company. Even before this, one lawyer told Fortune he believes the disgraced FTX founder violated wire fraud laws, which can come with a 20-year prison term. The question is what happens now: Will a team of FBI agents storm his luxury penthouse to arrest him?
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