The founder and former CEO of the bankrupt cryptocurrency platform FTX Sam Bankman-Fried was arrested Monday in the Bahamas and will be indicted in the U.S. as soon as Tuesday morning, according to U.S. and Bahamian authorities.

The Attorney General for the Bahamas said in a statement Monday that the Royal Bahamas police arrested Bankman-Fried after the U.S. notified them of pending criminal charges against the ex-billionaire, noting that the U.S. is “likely” to request extradition.

Bankman-Fried lives in the Bahamas, which is also where FTX was established and run from until its demise.

“The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public’s trust and broken the law,” said Attorney General Ryan Pinder.... Read More: The Hill