Former FTX chief government officer Sam Bankman-Fried, who’s presently going through a number of costs associated to wire fraud and securities fraud, reportedly stated he wished to see the indictment towards him earlier than agreeing to extradition to the USA.
Showing in an emergency listening to of the Bahamas Justice of the Peace Court docket on Dec. 19 for the primary time since his bail was denied, Bankman-Fried reportedly said he was keen to not battle the method required for extradition to the USA however wished to see all the costs towards him. He spent the final week within the Bahamas’ Fox Hill Jail, a facility with beforehand reported cases of physical abuse towards prisoners and “harsh” circumstances.
Some members of the crypto house, together with the crew behind YouTuber Ben Armstrong, also called Bitboy Crypto, reported on Twitter they appeared in individual on the listening to to “look SBF within the eyes.”
— Ben Armstrong (@Bitboy_Crypto) December 19, 2022
In the USA, Bankman-Fried faces charges from the Justice Department, Commodity Futures Buying and selling Fee, and Securities and Trade Fee associated to defrauding buyers and lenders. Below his management, FTX and related people additionally made tens of millions in donations to political candidates, allegedly violating marketing campaign finance legal guidelines.
It’s unclear why the previous FTX CEO could not battle extradition — if discovered responsible of all costs, stories recommend he might face a 115-year sentence. He was returned to the the Bahamas Division of Corrections’ custody following the listening to, the place he was expected to remain till Feb. 8.
Officers within the Bahamas arrested Bankman-Fried on Dec. 12 simply hours after he had carried out a sequence of on-line interviews as part of the former CEO’s apology tour associated to the collapse of FTX. Authorities reported SBF was initially despatched to the jail’s hospital wing — presumably as a part of efforts to manage his remedy, together with Adderall and antidepressants.