Home / News / Hearing on FTX founder Sam Bankman-Fried’s extradition to US set for Wednesday

Hearing on FTX founder Sam Bankman-Fried’s extradition to US set for Wednesday

Sam Bankman-Fried, the founding father of the bankrupt cryptocurrency alternate FTX, might have a listening to on Wednesday in a Bahamian courtroom on his doable extradition US throughout the coming days to face authorized costs related to the collapse of the company, a provide acquainted with the matter suggested The Associated Press.

The availability spoke on state of affairs of anonymity on account of they weren’t authorised to speak on the file. In a courtroom in Nassau, Bahamas, on Monday, Bankman-Fried’s authorized professionals talked about he had agreed to be extradited to the US, nonetheless the wanted paperwork had not however been written up.

In step with Reuters, Proceedings of the courtroom listening to are set to resume on Wednesday after he signed papers paving the way in which wherein for his extradition to america, the place he faces fraud costs.

It was not immediately clear when Bankman-Fried’s extradition might occur as quickly because it’s accepted by the Bahamian courtroom.

Bahamian authorities arrested Bankman-Fried remaining week on the request of the US authorities. 

US prosecutors allege he carried out a central place throughout the speedy collapse of FTX and hid its points from most of the people and merchants. The Securities and Commerce Payment talked about Bankman-Fried illegally used merchants’ money to buy precise property on behalf of himself and his family.

The 30-year-old might doubtlessly spend the rest of his life in jail.

Bankman-Fried was denied bail Friday after a Bahamian determine dominated that he posed a flight risk. The founder and former CEO of FTX, as quickly as worth tens of billions of {{dollars}} on paper, is being held throughout the Bahamas’ Fox Hill jail, which has been cited by human rights activists as having poor sanitation and as being infested with rats and bugs.

As quickly as he’s once more throughout the US, Bankman-Fried’s authorized skilled shall be succesful to request that he be launched on bail.

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