The Southern District of New York said he was arrested based on a sealed indictment. This will be unsealed later today when we presume the NDNY can get enough fish to distract the seal.

The Securities Exchange Commission (SEC) has also authorised separate charges relating to Bankman-Fried’s alleged violation of securities laws, to be filed publicly tomorrow.

The United States has an extradition treaty with the Bahamas that will allow the US to seek extradition but there are a few legal hurdles to overcome before that happens. The New York Times reported it could take weeks or longer if Bankman-Fried decides to contest the extradition.

Bankman-Fried will appear in court today after spending the night in a police cell. Whether he is granted bail pending the extradition will be one of those questions likely answered at the hearing.

He had been due to speakbefore US lawmakers, “calling in” from the Bahamas to a hearing before the House financial services committee.

Congresswoman Maxine Waters who chairs the committee said she was disappointed Bankman-Fried would no longer be appearing at the hearing.