Sam Bankman-Fried, founder and former CEO of FTX, has signed extradition papers, based on a report from Reuters on Dec. 20.
The information publication obtained an announcement from Doan Cleare, Performing Commissioner of Corrections at Fox Hill Jail, indicating that Bankman-Fried had agreed to extradition. Cleare mentioned that Bankman-Fried signed the paperwork round midday as we speak.
Early reviews steered that Bankman-Fried and his authorized workforce would struggle towards extradition to the U.S. Nevertheless, reviews yesterday steered that Bankman-Fried had modified his stance and would cooperate with the extradition order.
Bankman-Fried has been held within the medical unit of Fox Hill Jail, the Bahamas’ solely jail, since his arrest on Dec. 12. The alternate founder has attended quite a few hearings within the Bahamas since then. His subsequent listening to is scheduled for Wednesday, Dec. 21, at 11 a.m EST. It’s nonetheless unclear when he could also be despatched to the USA.
If Bankman-Fried returns to the U.S., he’ll face eight felony costs, together with fraud and cash laundering. He’ll seemingly request bail upon arriving within the U.S. If bail is denied, he’ll seemingly be held in New York’s Metropolitan Detention Heart, Brooklyn.
It has now been greater than 5 weeks because the collapse of FTX, and the corporate stays locked in chapter proceedings. Right this moment, FTX’s substitute administration workforce revealed that it had positioned greater than $1 billion of property, together with $720 million in money.
The administration workforce will transfer these funds from FTX’s accounts to approved depository establishments as a part of the continued chapter proceedings.
