Former FTX CEO Sam Bankman-Fried, who’s presently within the custody of authorities within the Bahamas, is reportedly opting to be extradited to the US.
Based on a brand new report from Reuters, the disgraced former crypto mogul will seem in a Bahamian court docket at this time to formally consent to his extradition.
The choice comes a couple of days after Bahamas authorities arrested Bankman-Fried on the request of the US authorities.
The arrest was primarily based on an indictment issued by the Southern District of New York, which costs Bankman-Fried for six counts of fraud, one depend of conspiracy to commit cash laundering and one other depend of conspiracy to defraud the US and violate marketing campaign finance legal guidelines.
The 30-year-old FTX founder can have his preliminary court docket listening to inside 48 hours of his arrival within the US to enter a plea and permit a decide to find out if he can publish bail, based on Reuters.
It’s unclear precisely what prompted Bankman-Fried’s determination to now not contest his extradition to his house nation, however a U.S. Division of State report describes a fairly grim atmosphere at Fox Hill jail within the Bahamas, the place the previous FTX CEO is presently remanded.
“Prisoners reported rare entry to nutritious meals and lengthy delays between every day meals. Most-security cells for males measured roughly six ft by 10 ft and held as much as six individuals with no mattresses or rest room services. Inmates eliminated human waste by bucket. Prisoners complained of the shortage of beds and bedding. Some inmates developed bedsores from mendacity on naked floor. Sanitation was a basic downside, and cells had been infested with rats, maggots, and bugs. The federal government claimed to offer entry to bathrooms and showers one hour a day to prisoners in maximum-security areas.”
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