Sam Bankman-Fried, the founding father of the bankrupt cryptocurrency change FTX, can have a listening to on Wednesday in a Bahamian courtroom on his attainable extradition US within the coming days to face legal prices associated to the collapse of the corporate, a supply conversant in 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 file. In a courtroom in Nassau, Bahamas, on Monday, Bankman-Fried's attorneys stated he had agreed to be extradited to the US, however the crucial paperwork had not but been written up.
In response to Reuters, Proceedings of the courtroom listening to are set to renew on Wednesday after he signed papers paving the best way for his extradition to the US, the place he faces fraud prices.
It was not instantly clear when Bankman-Fried’s extradition may happen as soon as it's authorized by the Bahamian courtroom.
Bahamian authorities arrested Bankman-Fried final week on the request of the US authorities.
US prosecutors allege he performed a central position within the fast collapse of FTX and hid its issues from the general public and traders. The Securities and Trade Fee stated Bankman-Fried illegally used traders’ 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 danger. The founder and former CEO of FTX, as soon as price 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 lawyer will be capable to request that he be launched on bail.
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