Technology

Listening to on FTX founder’s extradition to US set for Wednesday



NEW YORK – Sam Bankman-Fried can have a listening to Wednesday in a Bahamian courtroom on his doable extradition U.S. within the coming days to face prison fees associated to the collapse of cryptocurrency alternate FTX, a supply conversant in the matter informed The Related Press.

The supply spoke on situation of anonymity as a result of they weren’t licensed to talk on the report. In a courtroom in Nassau, Bahamas, on Monday, Bankman-Fried’s lawyers said he had agreed to be extradited to the U.S., however the crucial paperwork had not but been written up.

It was not instantly clear when Bankman-Fried’s extradition might happen as soon as it’s authorized by the Bahamian courtroom.

Bahamian authorities arrested Bankman-Fried last week on the request of the U.S. authorities. U.S. prosecutors allege he played a central role in the rapid collapse of FTX and hid its issues from the general public and buyers. The Securities and Trade Fee stated Bankman-Fried illegally used buyers’ cash to purchase actual property on behalf of himself and his household.

The 30-year-old might doubtlessly spend the remainder of his life in jail.

Bankman-Fried was denied bail Friday after a Bahamian choose dominated that he posed a flight threat. The founder and former CEO of FTX, as soon as price tens of billions of {dollars} on paper, is being held within the Bahamas’ Fox Hill jail, which has been has been cited by human rights activists as having poor sanitation and as being infested with rats and bugs.

As soon as he’s again within the U.S., Bankman-Fried’s lawyer will be capable of request that he be launched on bail.

Copyright 2022 The Related Press. All rights reserved. This materials might not be revealed, broadcast, rewritten or redistributed with out permission.

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