February 6, 2023

FTX founder Sam Bankman-Fried (heart) is escorted from the magistrates’ court docket in Nassau, Bahamas on Wednesday, Dec. 21, after agreeing to be extradited to the US.

Rebecca Blackwell/AP


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Rebecca Blackwell/AP


FTX founder Sam Bankman-Fried (heart) is escorted from the magistrates’ court docket in Nassau, Bahamas on Wednesday, Dec. 21, after agreeing to be extradited to the US.

Rebecca Blackwell/AP

Sam Bankman-Freed is being extradited to the US from his dwelling within the Bahamas to face an extended record of prices associated to the collapse of the FTX cryptocurrency trade he based.

A 30-year-old man is in FBI custody and is returning to the US, U.S. Legal professional for the Southern District of New York Damian Williams stated in a video posted to Twitter late Wednesday. He’ll seem earlier than a decide “as quickly as attainable,” Williams additionally stated.

On the similar time, two former buddies and colleagues of Bankman-Fried — Caroline Ellison and Gary Wang — have pleaded responsible to fraud by the SDNY and are cooperating with its investigation, Williams stated. Each have additionally been charged with investor fraud by the Securities and Trade Fee, Wall Road’s prime regulator, and are at the moment working with him to analyze Bankman-Freed, with the potential to succeed in a settlement with much less penalties.

A spokesman for Bankman-Fried declined to remark.

Simply over per week in the past, Bankman-Fried was arrested at his dwelling within the Bahamas on the request of the US authorities. He was charged with allegedly defrauding shoppers and traders, in addition to cash laundering and unlawful political marketing campaign contributions. Within the meantime, regulators have stated they’re additionally investigating his fraud.

His extradition proved to be no simple activity. After saying he would battle his dismissal, earlier this week he made it clear that he agreed to extradition. However the extradition listening to was canceled resulting from objections from his lawyer. On Wednesday, Bankman-Fried agreed in court docket to return to the US, however the timing of his journey was unclear.

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