Bahamas Hands Over Former FTX CEO Sam Bankman-Fried To The U.S. To Face Charges

NASSAU, Bahamas (AP) — Bahamian authorities mentioned Wednesday that former FTX CEO Sam Bankman-Fried has been extradited to the USA, the place he faces felony expenses associated to the collapse of the cryptocurrency change.

Bahamas’s lawyer common’s workplace mentioned that Bankman-Fried could be leaving for the USA later Wednesday, noting he had waived his proper to problem the extradition.

Reporters on the scene witnessed Bankman-Fried leaving a Justice of the Peace Court docket in Nassau in a darkish SUV earlier Wednesday. The automobile was later seen arriving at a non-public airfield by Nassau’s airport, from which he’s anticipated to be flown to the USA. He is because of land at Westchester County Airport in New York and can possible seem in entrance of a U.S. decide on Thursday.

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 fast collapse of FTX and hid its issues from the general public and traders. The Securities and Trade Fee mentioned Bankman-Fried illegally used traders’ cash to purchase actual property on behalf of himself and his household.

FTX founder Sam Bankman-Fried, middle, is escorted from the Justice of the Peace Court docket in Nassau, Bahamas, Wednesday, Dec. 21, 2022, after agreeing to be extradited to the U.S.(AP Picture/Rebecca Blackwell)

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 price 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.

As soon as he’s again within the U.S., Bankman-Fried’s lawyer will be capable of request that he be launched on bail.

Candy reported from Charlotte, North Carolina.

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