SBF Arrives in the US to Face Criminal Charges: Report

The aircraft carrying the infamous founding father of crypto trade FTX – Sam Bankman-Fried – has reportedly touched down in america.

He’s anticipated to look in court docket in New York Metropolis later as we speak (December 22). If convicted on all expenses, SBF may go to jail for as much as 115 years.

• A current coverage revealed that Bankman-Fried has already landed within the States escorted by federal brokers.
• The US authorities have accused the 30-year-old American of being the principle perpetrator behind the large failure of FTX and the next multi-billion investor losses.
• He’s about to face a number of expenses, together with conspiracy, securities fraud, and cash laundering and may very well be slammed with a 115-year jail sentence.
• The Bahamian police detained SBF (who spent the weeks after FTX’s collapse in his home on the island) and despatched him to the native correctional facility – Fox Hill – earlier this month. Nevertheless, he signed his extradition papers after a one-week keep there.
• His arrest occurred the identical day he was about to testify earlier than the US Home Committee on Monetary Providers, prompting many to counsel that high-profile figures need SBF to restrain from public talking.
• A number of sources indicated that FTX’s former boss paid hundreds of thousands of {dollars} to media shops so they might painting him as a humble hero whereas additionally donating important sums to the main US political events.
• SBF has reiterated that his crypto platform was not a fraudulent scheme and that its demise was a results of particular person errors. He additionally blamed a mysterious “sparring associate” for having a job within the disaster, with some assuming this may very well be Binance.
• CEO Changpeng Zhao dismissed the hypothesis, urging SBF to go to court docket and “begin answering questions” as a substitute of making drama with deceptive Twitter posts.