Former FTX CEO Sam Bankman-Fried, who’s at the moment going through a number of costs associated to wire fraud and securities fraud, reportedly mentioned he wished to see the indictment towards him earlier than agreeing to be extradited 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 prepared 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 instances of bodily abuse towards prisoners and “harsh” situations.
The group behind YouTuber Ben Armstrong, also referred to as Bitboy Crypto, reported on Twitter that they appeared in particular person on the listening to to “look @SBF_FTX within the eyes.”
We prepared. About to go in. Guess who’s in entrance of the road? Lastly attending to look @SBF_FTX within the eyes this morning. pic.twitter.com/TtdYXZiUnD
— Ben Armstrong (@Bitboy_Crypto) December 19, 2022
In the USA, Bankman-Fried faces costs from the Justice Division, Commodity Futures Buying and selling Fee, and Securities and Change 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 might not battle extradition. If discovered responsible of all costs, reviews counsel he might face a 115-year sentence. He was returned to the Bahamas Division of Corrections’ custody following the listening to, the place he’s anticipated to stay till Feb. 8.
Associated: Democrats to reportedly return over $1M of SBF’s funding to FTX victims
Officers within the Bahamas arrested Bankman-Fried on Dec. 12 simply hours after he had carried out a sequence of on-line interviews as a part of the previous 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.
