Why hasn't Sam Bankman-Fried been arrested?
Photo Illustration: Natalie Peeples/Axios. Photos: Taylor Hill and Bloomberg/Getty Images
Social media is full of questions about why Sam Bankman-Fried hasn't been arrested, often with a reminder ofThe wheels of justice turn slowly.Elizabeth Holmes didn't face civil charges by the SEC until March 2018 and criminal charges until that June. This is despite the initial Wall Street Journal investigation being published in October 2015, Theranos voiding two years of blood test results in May 2016 and federal regulators in July 2016 banning Holmes from running blood-testing labs.
Bankman-Fried, meanwhile, has publicly insisted that the FTX troubles were caused by incompetence rather than fraud. Not saying he's right, but rather that he's not falling on his sword like Madoff did.It will take a good amount of time for prosecutors to make their case, particularly given the ongoing bankruptcy process and how much of this occurred outside of the U.S.
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