Sam Bankman-Fried could be extradited to the US
consequences Wall Street JournalA court in the Bahamas has granted a US extradition request for FTX founder and former CEO Sam Bankman-Freed. He will soon appear in federal court in Manhattan to stand trial on multiple fraud allegations. New York timeHe also later confirmed that Bankman-Fried was being prepared for extradition.
Bankman-Fried officials could not be reached for comment.
Earlier filings by the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the United States Attorney’s Office in New York revealed that Bankman-Fried was behind “one of the largest financial scams in the US.” American According to a federal grand jury indictment, the founder and former CEO of FTX has been charged with eight counts of fraud, money laundering and financial misconduct and faces a maximum sentence of 115 years in prison.
The federal court in New York must observe and decide whether to release Bankman-Fried on bail upon his arrival in New York. The court will then schedule a hearing.
Bankman-Freed is currently being held in a prison in the Bahamas. When he appeared at an online hearing on December 13, his attorney said he was opposed to his being sent back to the United States. The former FTX CEO also filed two bail requests, in which he wanted to post bail of $250,000 and didn’t object to related conditions like wearing a foot monitor or reporting to authorities daily, but he did were not accepted.
How Sam Bankman-Fried scammed users out of $8 billion