NASSAU: Sam Bankman-Fried has consented to be extradited to the United States the place he faces fraud fees, in line with a testimony his legal professional learn on Wednesday at a court docket listening to in The Bahamas.
It paves the best way for the founding father of the FTX cryptocurrency trade to be flown to the United States as early as Wednesday afternoon. Bankman-Fried was once dedicated to custody to look ahead to the transfer.
Federal prosecutors in Manhattan closing week charged the 30-year-old cryptocurrency magnate with stealing billions of greenbacks in FTX buyer property to plug losses at his hedge fund, Alameda Research, in what US Attorney Damian Williams known as “one of the biggest financial frauds in American history.”
Bankman-Fried was once arrested on a US extradition request closing week in The Bahamas, the place he lives and the place FTX is founded. He first of all stated he would contest extradition, however Reuters and different shops reported over the weekend that he would opposite that call.
Bankman-Fried determined to comply with extradition partially out of a “desire to make the relevant customers whole,” in line with the affidavit, which is dated December 20.
Dressed in a go well with, Bankman-Fried stepped as much as the witness field in court docket, the place he spoke obviously and regularly as he was once sworn in.
“Yes, I do wish to waive my right to such formal extradition proceedings,” he instructed pass judgement on Shaka Serville.
Bankman-Fried’s protection legal professional stated his consumer had eaten, was once in excellent well being and was once “anxious to leave.”
The pass judgement on stated he was once happy that each one prison necessities for extradition have been met and that Bankman-Fried had now not been “forced, coerced or threatened” into making the verdict.
“I therefore formally commit you to custody while you await your extradition,” Serville stated.
The listening to was once adjourned after the statements.
Timing of departure unclear
Officials with the FBI and the United States Marshals Service – which handles transportation of people in US custody – have arrived in capital Nassau, an individual conversant in the topic stated on Wednesday morning.
It was once now not instantly transparent when Bankman-Fried would leave the Caribbean country for New York.
During Wednesday’s listening to, Bankman-Fried’s legal professional asked that the “rule of specialty” be adopted. This rule, which is in The Bahamas’ extradition treaty with the United States, says an individual will also be attempted best at the fees for which they’re extradited.
Bankman-Fried’s US-based protection legal professional, Mark Cohen, didn’t instantly reply to a request for touch upon Wednesday. A spokeswoman for the USA Attorney’s workplace in Manhattan declined to touch upon Wednesday.
Bankman-Fried has stated risk-management disasters at FTX, however has stated he does now not consider he has prison legal responsibility.
Bankman-Fried rode a crypto growth to turn out to be a billionaire a number of occasions over and an influential US political donor, sooner than FTX’s crash burnt up his wealth and tarnished his recognition. The cave in was once pushed by way of a wave of shopper withdrawals amid considerations over commingling of price range with Alameda.
The $32 billion trade declared chapter on November 11, and Bankman-Fried stepped down as CEO the similar day.
He has since been detained at The Bahamas Department of Corrections in Nassau, referred to as Fox Hill jail. The US State Department in a 2021 file described prerequisites on the facility as “harsh,” mentioning overcrowding, rodent infestation and prisoners depending on buckets as bogs.
Local government say prerequisites have since advanced.
It paves the best way for the founding father of the FTX cryptocurrency trade to be flown to the United States as early as Wednesday afternoon. Bankman-Fried was once dedicated to custody to look ahead to the transfer.
Federal prosecutors in Manhattan closing week charged the 30-year-old cryptocurrency magnate with stealing billions of greenbacks in FTX buyer property to plug losses at his hedge fund, Alameda Research, in what US Attorney Damian Williams known as “one of the biggest financial frauds in American history.”
Bankman-Fried was once arrested on a US extradition request closing week in The Bahamas, the place he lives and the place FTX is founded. He first of all stated he would contest extradition, however Reuters and different shops reported over the weekend that he would opposite that call.
Bankman-Fried determined to comply with extradition partially out of a “desire to make the relevant customers whole,” in line with the affidavit, which is dated December 20.
Dressed in a go well with, Bankman-Fried stepped as much as the witness field in court docket, the place he spoke obviously and regularly as he was once sworn in.
“Yes, I do wish to waive my right to such formal extradition proceedings,” he instructed pass judgement on Shaka Serville.
Bankman-Fried’s protection legal professional stated his consumer had eaten, was once in excellent well being and was once “anxious to leave.”
The pass judgement on stated he was once happy that each one prison necessities for extradition have been met and that Bankman-Fried had now not been “forced, coerced or threatened” into making the verdict.
“I therefore formally commit you to custody while you await your extradition,” Serville stated.
The listening to was once adjourned after the statements.
Timing of departure unclear
Officials with the FBI and the United States Marshals Service – which handles transportation of people in US custody – have arrived in capital Nassau, an individual conversant in the topic stated on Wednesday morning.
It was once now not instantly transparent when Bankman-Fried would leave the Caribbean country for New York.
During Wednesday’s listening to, Bankman-Fried’s legal professional asked that the “rule of specialty” be adopted. This rule, which is in The Bahamas’ extradition treaty with the United States, says an individual will also be attempted best at the fees for which they’re extradited.
Bankman-Fried’s US-based protection legal professional, Mark Cohen, didn’t instantly reply to a request for touch upon Wednesday. A spokeswoman for the USA Attorney’s workplace in Manhattan declined to touch upon Wednesday.
Bankman-Fried has stated risk-management disasters at FTX, however has stated he does now not consider he has prison legal responsibility.
Bankman-Fried rode a crypto growth to turn out to be a billionaire a number of occasions over and an influential US political donor, sooner than FTX’s crash burnt up his wealth and tarnished his recognition. The cave in was once pushed by way of a wave of shopper withdrawals amid considerations over commingling of price range with Alameda.
The $32 billion trade declared chapter on November 11, and Bankman-Fried stepped down as CEO the similar day.
He has since been detained at The Bahamas Department of Corrections in Nassau, referred to as Fox Hill jail. The US State Department in a 2021 file described prerequisites on the facility as “harsh,” mentioning overcrowding, rodent infestation and prisoners depending on buckets as bogs.
Local government say prerequisites have since advanced.