FTX founder and former CEO Sam Bankman-Fried has agreed to be extradited to the United States, where he will face prosecution on eight criminal charges.
A week ago, the 30-year-old leftist investor reported that he would fight extradition, then told a court that he was willing to waive his right to oppose his surrender. However, at that same hearing, the former CEO's lawyer Jerome Roberts said he had no knowledge of his client's plan.
Bankman-Fried returned to prison and there was no certainty as to what would happen next, until his lawyer announced that the necessary documents are being prepared to bring him back to the United States.
Footage of Sam Bankman-Fried being escorted back to prison from court yesterday. (Per @theBiscuitJesus) pic.twitter.com/Mkh3L11MJe
— BecauseBitcoin.com (@BecauseBitcoin) December 20, 2022
According to Roberts, the businessman's change of decision is due to the fact that he wants to repair the damage he has done to clients. However, it may have been influenced by the fact that in the United States he could have the option of being released on bail.
His next court date is scheduled for Feb. 8, although some media say it could be moved up.
Bankman-Fried filed for bankruptcy a month ago after his crypto-based company FTX went from being valued at $32 billion to being more than $3 billion in debt.
BREAKING: Sam Bankman-Fried agrees to be extradited to the United States
He will face 8 counts, including wire fraud, securities fraud, and campaign finance violations
— Genevieve Roch-Decter, CFA (@GRDecter) December 21, 2022
Bankman-Fried was arrested last week in Bahamas after law enforcement authorities in the Caribbean country received formal notification of the charges against the FTX founder.
The charges he faces are: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the United States and violate the campaign finance laws.
