Bankman-Fried Associates Flip as FTX Founder Arrives in NYC (1)

FTX co-founder Sam Bankman-Fried landed in the US late Wednesday to face a range of criminal charges just as two of his long-time associates said they were cooperating with prosecutors.

The revelation that Caroline Ellison and Gary Wang had pleaded guilty to fraud and were working with federal officials probing the collapse of the crypto exchange is an ominous sign for Bankman-Fried. The 30-year-old is facing an eight-count indictment in New York.

Sam Bankman-Fried, founder of FTX, is escorted out of the Magistrate’s Court in Nassau, Bahamas, on Monday, Dec. 19, 2022.

Photographer: Victor J. Blue/Bloomberg

Bankman-Fried is expected to make his first appearance in Manhattan federal court on Thursday. His lawyers may seek bail.

US authorities are conducting a sprawling investigation into ...