The FTX debacle continues to unfold. The exchange’s founder and fraudster extraordinaire Sam Bankman-Fried was arrested Monday evening in the Bahamas and is now facing federal charges in the United States.

Currently the disgraced CEO is being detained in the Bahamas, his place of residence, pending extradition proceedings. SBF and his team have announced that he plans to fight extradition to the United States.

As part of the legal proceedings surround his arrest Bankman-Fried had petitioned Bahamian authorities to grant bail. His petition, however, was denied by Bahamas Chief Magistrate JoyAnn Ferguson-Pratt who described him as a flight risk – little surprise given his access to a vast, ill-gotten fruits fortune.

SBF will remain in detention in the Bahamas until at least February 8, 2023.