Sam Bankman-Fried has signed paperwork to pave the way in which for his extradition to the US, the place he faces fraud costs over the collapse of his cryptocurrency alternate FTX, forward of one other scheduled courtroom look on Wednesday within the Bahamas.
Bankman-Fried’s signed the papers in Nassau on Tuesday, stated an individual aware of the matter. He is because of seem in Bahamas magistrates’ courtroom on Wednesday morning. His legal professionals instructed Reuters he would conform to extradition, paving the way in which for a swift departure from the Caribbean nation.
Bankman-Fried was arrested final week in Nassau, the place he lives, after the US Division of Justice filed costs towards him, accusing the one-time crypto tycoon of orchestrating “one of many greatest monetary frauds in American historical past”.
US authorities allege FTX funnelled buyer cash to Bankman-Fried’s non-public buying and selling agency Alameda Analysis, the place it was spent on dangerous investments, political donations and luxurious purchases corresponding to actual property.
Bankman-Fried has denied wrongdoing.
The most recent step in the direction of extradition adopted a confused day of proceedings on Monday when Bankman-Fried was taken to the courthouse amid expectations he would consent to be extradited.
The method was delayed when his native lawyer stated he was unaware of the explanation for the listening to. Bankman-Fried, 30, was despatched again to jail in Nassau afterward Monday with out having agreed to be returned to his dwelling nation.
The previous billionaire was denied bail within the Bahamas final week after a decide deemed him a flight threat and has since been held on the nation’s Fox Hill Jail, which is infamous for its harsh situations. After arriving within the US, Bankman-Fried could have a recent alternative to request bail.
Harry Sandick, a accomplice at legislation agency Patterson Belknap specialising in white collar defence, stated Bankman-Fried would possible be “moved shortly to the US if he consents”.