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Sam Bankman-Fried agrees to US extradition 'to fix customers': report

Published on

December 19, 2022
Read Time:1 Minute, 11 Second

Former FTX CEO Sam Bankman-Fried, who's presently in custody with Bahamian authorities, has reportedly agreed to be extradited to america to face expenses.

In line with a Dec. 19 report by Reuters, Bankman-Fried's authorized staff said Paperwork had been deliberate to be ready for him to look once more within the Bahamas Magistrates Court docket someday this week. The previous CEO of FTX attended an emergency courtroom listening to simply hours earlier with no verdict or verdict - he returned to jail after the occasion.

"Mr. Bankman-Fried desires to place prospects proper and that is what drove his resolution," reportedly mentioned Jerome Roberts of SBF's authorized staff.

Bankman-Fried reportedly needed to see the fees towards him earlier than agreeing to extradition to america. He faces expenses by the Justice Division, the Commodity Futures Buying and selling Fee and the Securities and Trade Fee on investor and lender fraud and marketing campaign finance violations, and will withstand 115 years in jail if convicted.

Associated: In line with authorized commentators, SBF's litigation nonetheless has "work to do."

The previous FTX CEO has been in custody by Bahamian authorities since December 12, when native police arrested him as a part of an extradition investigation with the US. By then, Bankman-Fried had been giving common interviews to main media shops and was anticipated to testify earlier than a minimum of one congressional listening to.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 19, 2022
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