Sam Bankman-Fried aims to consent to extradition

Last Updated on 2 hours by John Piper

Sam Bankman-Fried, the former CEO of FTX, is allegedly aiming at reversing his decision to context his extradition from the United States.

According to Reuters, Bankman Fried is expected to appear before a court in the Bahamas in an attempt to overturn the decision to contest extradition.

“His decision to consent for extradition would allow him to appear before a U.S. court to face wirefraud, money laundering, and campaign finance charges.”

This decision comes after Bankman Fried was denied bail earlier this week. The court’s decision was based on a risk of flight. Michael Weinstein, a former federal prosecutor and defense attorney, commented:

Prosecutors have strong arguments against him because of the missing money. I would expect that judges would place very strict and burdensome conditions .”</em upon granting pretrial release.

His lawyers claim that Bankman-Fried’s second bail application is due to the fact that he does not have a criminal record, and has been suffering depression since the collapse of crypto exchange FTX. According to Reuters, Bankman-Fried will likely be held at Brooklyn’s Metropolitan Detention Centre after he arrives from the Bahamas. He might be held in custody outside of New York City if the centre is full. Bankman-Fried is currently being held at Fox Hill Prison in Bahamas. This is the only prison in Bahamas. The US State Department has reported that the conditions there are unsanitary and brutal.

Bankman-Fried could contest his extradition and appear before a US court to face charges of fraud conspiracy, fraud, money laundering, and exploiting US financial laws. Federal crime convictions can land the accused up to 115 years imprisonment. Mark Cohen, an ex-federal prosecutor, will be acting as Bankman-Fried’s defense attorney.

Coin Insider’s first post, Sam Bankman-Fried seeks to consent to extradition

Be the first to comment

Leave a Reply

%d bloggers like this: