Sam Bankman-Fried agrees to US extradition ‘to place the shoppers proper’: Report

Deal Score0
Deal Score0

Former FTX CEO Sam Bankman-Fried, at the moment within the custody of Bahamian authorities, has reportedly agreed to be extradited to the USA to face prices.

Based on a Dec. 19 report from Reuters, Bankman-Fried’s authorized workforce said it deliberate to arrange paperwork to have him reappear earlier than the Bahamas Justice of the Peace Court docket someday this week. The previous FTX CEO attended an emergency listening to of the court docket simply hours earlier with none seeming adjudication or ruling — he returned to jail following the occasion.

“Mr. Bankman-Fried needs to place the shoppers proper, and that’s what has pushed his choice,” Jerome Roberts, on SBF’s authorized workforce, was quoted as saying.

Bankman-Fried reportedly had wanted to see the indictment in opposition to him earlier than he agreed to be extradited to the USA. He faces prices from the Justice Division, the Commodity Futures Buying and selling Fee and the Securities and Trade Fee related to defrauding investors and lenders in addition to violations of marketing campaign finance legal guidelines. He could possibly be a 115-year sentence if convicted.

Associated: SBF’s legal battle still has “a lot to play out,” according to legal commentators

The previous FTX CEO has been within the custody of Bahamian authorities since Dec. 12, when native police arrested him as a part of extradition proceedings with the U.S. Till then, Bankman-Fried had been repeatedly giving interviews to main media shops and was anticipated to testify earlier than at the least one congressional listening to.