Written by 9:58 pm Wealth Building Views: 0

Ex-FTX CEO Sam Bankman-Fried signs extradition papers in Bahamas

Defendant cryptogrifter Sam Bankman-Fried is one step closer to a U.S. courtroom on Tuesday after he signed legal papers to start his extradition process.

According to Doan Cleare, acting commissioner of corrections within the Bahamas, the 30-year-old former CEO of FTX – accused of defrauding investors in a $1.8 billion cryptocurrency exchange – signed the documents around noon.

Bankman-Fried is due back in court Wednesday morning for a hearing that is anticipated to start the technique of his return to the US.

In court last week, Bankman-Fried said he would seek extradition to the US while looking for bail from a Bahamian prison.

However, the judge ruled that he was prone to absconding and ordered him placed at Fox Hill Prison, where he has been held since his arrest on December 12.

Sam Bankman-Fried
Sam Bankman-Fried signed legal papers to start the extradition process.

After an apparent shift over the weekend, Bankman-Fried appeared in a Bahamian court on Monday to start his extradition process – much to the surprise of his local lawyer.

“Mr. Bankman-Fried desires to fix the situation for purchasers and that is what influenced his decision,” Jerone Roberts, a defense attorney for the previous president within the Bahamas, told reporters on Monday.

The lawyer added that Bankman-Fried made the choice against “the strongest possible legal advice.”

Magistrate's Court
Bankman-Fried will return to the courtroom within the Bahamas on Wednesday morning.
AP/Rebecca Blackwell

If Bankman-Fried is extradited, his case might be heard in a federal court within the Southern District of New York.

(Visited 1 times, 1 visits today)