Yes, and you can calculate exactly how much time it takes (it was an exam question in my final exams for undergrad iirc). The amount of time depends on the mass of the black hole but it's definitely less than a minute.
I'd always assumed that for TON 618 it would've been a few days… but I don't have a physics degree, and now I come to write this comment realise I'd been just presuming it was "Schwarzschild radius/c" and it's not necessarily going to be such an easy result.