Former FTX CEO Sam Bankman-Fried, at present within the custody of Bahamian authorities, has reportedly agreed to be extradited to the USA to face expenses.
Based on a Dec. 19 report from Reuters, Bankman-Fried’s authorized staff mentioned it deliberate to organize paperwork to have him reappear earlier than the Bahamas Justice of the Peace Courtroom someday this week. The previous FTX CEO attended an emergency listening to of the court docket simply hours earlier with none seeming adjudication or ruling — he returned to jail following the occasion.
“Mr. Bankman-Fried needs to place the purchasers proper, and that’s what has pushed his choice,” reportedly mentioned Jerome Roberts, on SBF’s authorized staff.
Bankman-Fried reportedly needed to see the indictment in opposition to him earlier than agreeing to be extradited to the USA. He faces expenses from the Justice Division, Commodity Futures Buying and selling Fee, and Securities and Change Fee associated to defrauding buyers and lenders in addition to violations of marketing campaign finance legal guidelines, and may very well be a 115-year sentence if convicted.
Associated: SBF’s authorized battle nonetheless has “rather a lot to play out,” in response to authorized commentators
The previous FTX CEO has been within the custody of Bahamian authorities since Dec. 12, when native police arrested him as a part of extradition proceedings with the U.S. Till then, Bankman-Fried had been frequently giving interviews to main media retailers and was anticipated to testify earlier than at the least one congressional listening to.
