FTX Co-Founder Bankman-Fried To Turn Himself In For US Extradition: Disgraced Sam Bankman-Fried (SBF), a co-founder of FTX, apparently decided against challenging his extradition to the US.
Bankman-Fried has been housed in the dirty, overcrowded Fox Hill prison run by the Bahamas Department of Correctional Services (BDOCS), where she has spent nearly five days.
SBF Won’t Fight Monday’s Request for Extradition from the United States, a Reuters Source claims.
According to Reuters, Sam Bankman-Fried (SBF) intends to be more receptive to being extradited to the United States as of December 17, 2022, “a person familiar with the case said on Saturday.”
The insider said that when SBF shows up in court on Monday, he would “change his decision to contest extradition.” Judge Ferguson-denial Pratt’s of SBF’s motion for bail release meant that the former FTX CEO was to remain at Fox Hill until February 8, 2023.
Disgraced #FTX co-founder Sam Bankman-Fried (SBF) has reportedly reversed his decision to contest his extradition to the United States. https://t.co/65p2KP5RGN
— Bitcoin News (@BTCTN) December 17, 2022
The SBF announcement comes in the wake of reports that the former FTX executive shared a sick ward on Fox Hill with five other prisoners. According to Doan Cleare, the interim commissioner of The Bahamas Corrections, SBF was receiving his medication, and he was “in good spirits.” According to a plethora of human rights reports, Fox Hill’s reputation for being orderly and clean is relatively poor.
According to a second source acquainted with the situation, SBF filed a “fresh bail application before The Bahamas Supreme Court on Thursday,” as reported by Reuters. SBF was detained on December 12, 2022, and prosecutor Damian Williams of the Southern District of New York (SDNY) accused him of a number of financial fraud and conspiracy offenses.
The Commodity Futures Trading Commission (CFTC) is suing SBF, and the Securities and Exchange Commission (SEC) of the United States has accused him of fraud.
Following SBF’s arrest, Ryan Pinder, the Bahamas attorney general, told the media that the nation was working with the United States and that SBF was most likely to be extradited. Apparently residing in the Bahamas, SBF’s parents have obviously made an effort to feed their kids vegan meals.
A report stated that SBF’s mother allegedly laughed aloud every time her son was referred to as a “fugitive” on the day that SBF’s parents attended the initial hearing. If SBF is extradited, there’s a decent probability he might end up in jail in New York and would probably be confined in PC (protective custody).
The world is curious about the whereabouts of FTX co-founder Gary Wang and former Alameda Research CEO Caroline Ellison, but no other FTX executives have been indicted.
Prior to SBF filing for bankruptcy protection, it was apparently revealed that FTX co-CEO Ryan Salame had leaked information about the business.
The unsealed indictment only references Sam Bankman-Fried and his alias SBF, but it also makes reference to other known and unnamed individuals who intentionally came up with a plot to swindle others.
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