Sam Bankman-Fried instructed a Bahamian courtroom Wednesday that he has agreed to be extradited to the U.S. to face legal fees associated to the collapse of cryptocurrency trade FTX.
The former FTX CEO left a Magistrate’s Court and headed to Odyssey Aviation to return to the United States, in response to Bahamian news group Our News.
Bahamian authorities arrested Bankman-Fried final week on the request of the U.S. authorities. U.S. prosecutors allege he performed a central position within the speedy collapse of FTX and hid its issues from the general public and traders. The Securities and Exchange Commission mentioned Bankman-Fried illegally used traders’ cash to purchase actual property on behalf of himself and his household.
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The 30-year-old might doubtlessly spend the remainder of his life in jail.
Bankman-Fried was denied bail Friday after a Bahamian decide dominated that he posed a flight threat. The founder and former CEO of FTX, as soon as value tens of billions of {dollars} on paper, is being held within the Bahamas’ Fox Hill jail, which has been has been cited by human rights activists as having poor sanitation and as being infested with rats and bugs.
Once he’s again within the U.S., Bankman-Fried’s legal professional will be capable of request that he be launched on bail.
