Sam Bankman-Fried, the founding father of the bankrupt cryptocurrency alternate FTX, can have a listening to on Wednesday in a Bahamian court docket on his doable extradition US within the coming days to face legal costs associated to the collapse of the corporate, a supply accustomed to the matter instructed The Related Press.
The supply spoke on situation of anonymity as a result of they weren’t authorised to talk on the report. In a court docket in Nassau, Bahamas, on Monday, Bankman-Fried’s legal professionals stated he had agreed to be extradited to the US, however the essential paperwork had not but been written up.
Based on Reuters, Proceedings of the court docket listening to are set to renew on Wednesday after he signed papers paving the best way for his extradition to the USA, the place he faces fraud costs.
It was not instantly clear when Bankman-Fried’s extradition may happen as soon as it’s authorized by the Bahamian court docket.
Bahamian authorities arrested Bankman-Fried final week on the request of the US authorities.
US prosecutors allege he performed a central function within the fast collapse of FTX and hid its issues from the general public and buyers. The Securities and Change Fee stated Bankman-Fried illegally used buyers’ cash to purchase actual property on behalf of himself and his household.
The 30-year-old may doubtlessly spend the remainder of his life in jail.
Bankman-Fried was denied bail Friday after a Bahamian choose dominated that he posed a flight threat. The founder and former CEO of FTX, as soon as value tens of billions of {dollars} on paper, is being held within 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 soon as he’s again within the US, Bankman-Fried’s legal professional will have the ability to request that he be launched on bail.
