Bankman-Fried Sits in Bahamas Jail After Lightning US Probe (1)

US prosecutors usually grind away in obscurity for months or years before unveiling a criminal indictment. Their case against FTX founder Sam Bankman-Fried came together in a matter of weeks.

Speed was of the essence for Manhattan US Attorney Damian Williams, who unveiled criminal charges against the disgraced entrepreneur just over a month after FTX filed for bankruptcy. Bankman-Fried is now in jail in the Bahamas, where a judge denied him bail because of concerns that he is a flight risk.

Sam Bankman-Fried is led away by Royal Bahamas Police Force officers in Nassau on Dec. 13.

Photographer: Mario Duncanson/AFP/Getty Images

By comparison, Enron Corp. Chief Executive Officer Jeffrey Skilling, who was ultimately convicted of fraud and ...