Former FTX CEO Sam Bankman-Fried, who's at the moment going through a number of fees associated to wire fraud and securities fraud, reportedly stated he needs to see the fees towards him earlier than agreeing to extradition to america.
Bankman-Fried reportedly appeared in an emergency listening to on the Bahamas Magistrates Court docket on December 19 for the primary time since he was denied bail said He was prepared to not contest the method required for extradition to america, however wished to see all fees towards him. He spent the final week at Fox Hill Jail within the Bahamas, a facility with beforehand reported instances of bodily abuse of prisoners and "harsh" situations.
Some members of the crypto area, together with the staff behind YouTuber Ben Armstrong, aka Bitboy Crypto, reported on Twitter, they appeared in particular person on the listening to to "look SBF within the eye."
— Ben Armstrong (@Bitboy_Crypto) December 19, 2022
In america, Bankman-Fried faces indictments from the Justice Division, the Commodity Futures Buying and selling Fee and the Securities and Change Fee associated to defrauding buyers and lenders. Underneath his management, FTX and associates additionally donated thousands and thousands to political candidates and allegedly violated marketing campaign finance legal guidelines.
It is unclear why the previous FTX CEO won't be combating extradition - if discovered responsible on all fees, studies recommend he may face a 115-year sentence. After the listening to, he was returned to the custody of the Bahamas Division of Justice, the place he's anticipated to stay till February 8.
Associated: Democrats are reportedly to return over $1 million of SBF funding to FTX victims
Officers within the Bahamas arrested Bankman-Fried December 12 simply hours after he performed a collection of on-line interviews as a part of the previous CEO's apology tour associated to the collapse of FTX. Authorities reported that SBF was initially despatched to the jail's infirmary - presumably as a part of efforts to manage his treatment, together with Adderall and antidepressants.