Former FTX CEO Sam Bankman-Fried, currently in the custody of the Bahamian authorities, reportedly agreed to be extradited to the United States to face the charges against him.
According to a Reuters story dated December 19, Bankman-Fried’s legal team said it planned to prepare documents for him to appear again in Bahamas Magistrates Court sometime this week. The former FTX CEO attended a last-minute court hearing hours earlier with no apparent ruling or ruling, after which he returned to prison.
“Mr. Bankman-Fried wants to make things right with clients, and that is what has driven his decision,” said Jerome Roberts of SBF’s legal team.
Bankman-Fried apparently wanted to know all the charges against him before agreeing to be extradited to the United States. He faces charges from the Department of Justice, the Commodity Futures Trading Commission, and the Securities and Exchange Commission related to defrauding investors and lenders, as well as violations of campaign finance laws, and could be sentenced to 115 years in prison if convicted.
The former CEO of FTX has been in the custody of the Bahamian authorities since December 12, when local police arrested him as part of an extradition proceeding with the US. Until then, Bankman-Fried had regularly given interviews to various popular media outlets and was expected to testify before at least one congressional hearing.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.
