Sam Bankman-Fried has signed extradition papers

Hull Invest

FTX founder and former CEO Sam Bankman-Fried has signed extradition papers. report From Reuters on Dec. 20.

The news publication obtained a statement from Fox Hill Penitentiary Deputy Director of Corrections, Doan Clear, indicating Bankman-Fried agreed to extradition. Cleare said Bankman-Fried signed the document around noon today.

Earlier reports suggested Bankman-Fried and his legal team would oppose extradition to the United States, but yesterday’s report suggested that Bankman-Fried would change his position and cooperate with the extradition order. suggested to be deaf.

Bankman-Fried has been held in the medical unit of Fox Hill Prison, the Bahamas’ only prison, since his December 12 arrest. His next public hearing is scheduled for Wednesday, December 21 at 11:00 am EST. It is still unknown when he will be sent to the United States.

If Bankman-Fried returns to the United States, he faces eight criminal charges, including fraud and money laundering. He is likely to request bail upon arrival in the U.S. If bail is denied, he is likely to be held at the Metropolitan Detention Center in Brooklyn, New York.

It’s been over five weeks since FTX’s bankruptcy, and the company remains in bankruptcy proceedings. Today, FTX’s succession management team revealed they have found over $1 billion in assets for him, including $720 million in cash.

Management will move these funds from FTX’s accounts to licensed depository institutions as part of the ongoing bankruptcy proceedings.

Updated at 12:45 AM UTC: CNBC reports that Sam Bankman-Fried is due to return to the US on Wednesday after his next hearing.

Posted In: FTX, USA, Legal

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