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What a prosecutor calls one of the biggest financial frauds in american history. more from cbs's scott macfarlane. >> reporter: inside a heavily secured courthouse in the bahamas this morning, 30-year-old samuel bankman-fried, arrested and disgraced, was denied bail and signaled he would fight extradition to the u.s. >> this is one of the biggest financial frauds in american history. >> reporter: where the justice department charged bankman-fried with numerous financial crimes unclueding wire, security fraud and money laundering. bankman-fried's company ftx based in the bahamas and touted by t...

Incl including wire fraud and hours after he was arrested in the bahamas at the request of u.s. prosecutors. now bankman-fried was supposed to be testifying before congress right now about the collapse of ftx. that was -- that company once valued at $32 billion. now bankrupt. a lot to get to. let' let's begin with cara scan'll. what do we do with that. >> our massive new charges unsealed by the u.s. attorney's office in manhattan. there are eight criminal counts that he's facing, that includes wire fraud, conspiracy and multiple counts of conspiracy and what they lay out in the 14-page indictm...

That he will fight extradition to the united states, where the authorities have filed eight separate criminal charges against him. he's accused of wire fraud, money laundering and conspiracy to defraud. he also faces civil charges including misleading investors who put over a billion dollars into the company. damian williams is the us attorney for the south district of new york. it's fair to say that this is one of the biggest financialfrauds in the biggest financial frauds in american the biggest financialfrauds in american history. this report from our cyber reporterjoe tidy. sam bankman—f...

Is a straight up fraud.— is a straight up fraud. well, the court will find _ is a straight up fraud. well, the court will find out _ is a straight up fraud. well, the court will find out whether - is a straight up fraud. well, the court will find out whether or i is a straight up fraud. well, the l court will find out whether or not. it court will find out whether or not. it looks _ court will find out whether or not. it looks suspicious on the face of it. it looks suspicious on the face of it but _ it looks suspicious on the face of it but the — it looks suspicious on the face of it. but ...

>> did you know that ftx deposits were used to pay off at alley ma creditors. >> reporter: ftx customers alone were defrauded over $8 billion according to federal authorities. >> are you worried about going to jail? >> there are a lot of things that are worrying me right now. let whatever, you know, regulatory and legal processes play out as they will. >> reporter: the 30-year-old once celebrated as the poster child for transparency in crypto. his company valued at $32 billion earlier this year, attracting amateur investors and partners with celebs like steph curry and tom brady. but imploding...