Act Daily News
Former FTX CEO Sam Bankman-Fried is predicted to seem in a Bahamas court docket on Monday to reverse his determination to contest extradition to the US, an individual conversant in the matter informed Act Daily News.
The New York Times additionally reported that Bankman-Fried is predicted to comply with extradition to the US, citing an individual briefed on the matter.
Act Daily News has reached out to Bankman-Fried’s attorneys, and the Bahamas Attorney General.
The Bahamas police PIO Superintendent Chrislyn Skippings informed Act Daily News on Sunday, “If he does go to court tomorrow it would be at Nassau street court complex,located on Nassau street and South streets.”
Last Tuesday, federal prosecutors from the Southern District of New York charged Bankman-Fried with eight counts of fraud and conspiracy. Bankman-Fried may resist 115 years in jail if convicted on all eight counts towards him, although he doubtless wouldn’t get the utmost sentence.
On high of that, US market regulators filed civil lawsuits accusing Bankman-Fried of defrauding buyers and clients, saying he “built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto.”
Bankman-Fried stays within the Bahamas, the place FTX was primarily based, and was arrested final Monday evening. He was arraigned Tuesday, and a Bahamian decide denied his request for bail, saying that he posed a flight danger. His extradition to the United States may take weeks.
– Allison Morrow contributed to this report.