It paves the best way for the founding father of the FTX cryptocurrency change to be flown to the United States as early as this afternoon.
Bankman-Fried determined to comply with extradition partially out of a “desire to make the relevant customers whole,” in keeping with the affidavit, which is dated Dec 20.
Dressed in a swimsuit, Bankman-Fried stepped as much as the witness field in courtroom, the place he spoke clearly and steadily as he was sworn in.
“Yes, I do wish to waive my right to such formal extradition proceedings,” he informed the choose.
His protection lawyer informed the choose that his shopper was “anxious to leave.”
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The listening to was adjourned after the statements.
Officials with the FBI and the United States Marshals Service – which handles transportation of people in U.S. custody – have arrived in capital Nassau, an individual acquainted with the matter mentioned on Wednesday morning.
It was not instantly clear when Bankman-Fried would depart the Caribbean nation for New York.
Federal prosecutors in Manhattan final week charged the 30-year-old cryptocurrency mogul with stealing billions of {dollars} in FTX buyer belongings to plug losses at his hedge fund, Alameda Research, in what U.S. Attorney Damian Williams referred to as “one of the biggest financial frauds in American history.”
Bankman-Fried was arrested on a U.S. extradition request final week in The Bahamas, the place he lives and the place FTX is predicated. He initially mentioned he would contest extradition, however Reuters and different shops reported over the weekend that he would reverse that call.
Bankman-Fried’s U.S.-based protection lawyer, Mark Cohen, didn’t instantly reply to a request for touch upon Wednesday. A spokesman for the U.S. Attorney’s workplace in Manhattan declined to touch upon Wednesday.
Bankman-Fried has acknowledged risk-management failures at FTX, however has mentioned he doesn’t imagine he has felony legal responsibility.
Wednesday’s listening to will observe a complicated sequence of occasions this week that left the standing of Bankman-Fried’s anticipated extradition unclear.
On Monday, following the news reviews he had agreed to be extradited, Bankman-Fried arrived on the courthouse in a black van marked “Corrections” sporting a blue swimsuit jacket and white shirt – a distinction to the informal apparel he was recognized for whereas working FTX.
At the listening to, his native protection lawyer Jerone Roberts mentioned he was not knowledgeable of the aim of the continuing. After a short recess, Roberts mentioned his shopper had seen an affidavit outlining the costs towards him, however wished entry to the complete U.S. indictment towards him earlier than consenting to extradition.
The proceedings had been then adjourned. They had been anticipated to renew on Tuesday morning, however Bankman-Fried’s authorized papers weren’t prepared in time.
Bankman-Fried rode a crypto growth to grow to be a billionaire a number of occasions over and an influential U.S. political donor, earlier than FTX’s crash worn out his wealth and tarnished his popularity. The collapse was pushed by a wave of buyer withdrawals amid considerations over commingling of funds with Alameda.
The $32-billion change declared chapter on Nov. 11, and Bankman-Fried stepped down as CEO the identical day.
He has since been detained at The Bahamas Department of Corrections in Nassau, generally known as Fox Hill jail. The U.S. State Department in a 2021 report described circumstances on the facility as “harsh,” citing overcrowding, rodent infestation and prisoners counting on buckets as bogs.
Local authorities say circumstances have since improved.