Bankman-Fried’s Day To Return To The US Is Coming Very Close

Key Points:

• After a judge authorized his extradition from the Bahamas, Sam Bankman-Fried is returning to the United States to face criminal charges related to the failure of FTX.
• According to reports, representatives from the Federal Bureau of Investigation, the U.S. Marshals Service, and the U.S. Embassy were present to help with the handover, for which he had first signed documents on December 20.
• If found guilty of all eight of the felony charges against Bankman-Fried, he may get a life term in prison.

After a hearing, former FTX CEO Sam Bankman-Fried, who has been in the custody of Bahamian police, might be extradited to the US,the Wall Street Journal reported.

Bankman-Fried reportedly forfeited his right to a formal extradition procedure that may have lasted weeks on December 21 when he appeared in The Bahamas Magistrate Court for a hearing. According to reports, representatives from the Federal Bureau of Investigation, the U.S. Marshals Service, and the U.S. Embassy were there to help with Bankman-Fried’s handover, for which he had initially signed documents on December 20.

According to Reuters, the former CEO of SBF was anxious to leave The Bahamas. On December 19, SBF allegedly told Jerome Roberts, a member of Bankman-Fried’s legal team, that his decision was motivated by a desire to put the customers right. Since many weeks ago, more than a million FTX creditors have been unable to retrieve their money.

During the most recent hearing on Wednesday, Bankman-Fried’s motion was ultimately granted. Although the exact time of the extradition is still unknown, the New York Times stated that he might be up as early as Wednesday afternoon, at which point he would be charged in Manhattan’s Federal District Court.

The disgraced former CEO of the defunct Bahamas-based cryptocurrency exchange FTX was detained at his condominium in the nation’s capital last week and, at first, resisted extradition to the United States. Bankman-Fried was remanded to imprisonment in the famously overcrowded and hazardous Fox Hill prison in the Bahamas after a magistrate court rejected his request for bail.

If found guilty of all eight of the felony charges against Bankman-Fried, he may get a life term in prison.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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