Sam Bankman-Fried, the former head of the failed cryptocurrency exchange FTX, returns to the United States early Wednesday.
This was revealed by Doan Cleare, acting commissioner of corrections for the Bahamas Department of Correctional Services, according to a new report from NBC News.
- Bankman Fried, who is currently in Fox Hill Prison in the Bahamas, refused to waive his right to challenge extradition to the United States and signed the papers necessary for the process.
- Claire did not reveal the reason for this move, but indicated that the extradition battle could take years.
- In a statement to The Bahamas, he said that Bankman Fried would rather spend that time in the US than in the Bahamas even though the island nation has been home to FTX since 2021.
- Jeroen Roberts – the attorney representing the SBF – confirmed that the former president had “voluntarily agreed to be extradited to the United States”.
- Some reports claimed that the founder of FTX would be escorted by FBI agents on a non-commercial plane.
- Bahamas police arrested Bankman Fried on December 12 and held him in the notorious Fox Hill Prison.
- The 30-year-old is accused of misappropriating billions of dollars deposited on cryptocurrency exchange FTX, which filed for Chapter 11 bankruptcy protection last month.
- The day after his arrest, a Bahamian judge denied Bankman-Fred bail, calling the former billionaire an escape risk.
- The exec faces a slew of charges brought by three separate government agencies – the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC).
Sam Bankman-Fried Post Heading to the US Wednesday: The report appeared first on CryptoPotato.