FTX founder Sam Bankman-Fried is expected tell a judge in the Bahamas that he will no longer fight extradition to the U.S., a source with direct knowledge of the matter said.
Sam Bankman-Fried, founder of FTX, is escorted out of the Magistrate's Court in Nassau, Bahamas, on Dec. 13. Photographer: George Robinson/Bloomberg via Getty Images
FTX founder Sam Bankman-Fried is expected tell a judge in the Bahamas today that he will no longer fight extradition to the U.S., a source with direct knowledge of the matter tells Axios.: That would mean the founder and former CEO of the collapsed company could be extradited to the U.S. as soon as today,, the source tells Axios that Bankman-Fried will accept extradition to the U.S. and is expected to say this in court today.
The same source however cautions that the case is still in flux and things could change. The source did not want to speak on the record due to the sensitivity of the legal proceedings.when Bankman-Fried arrived in court today, there was some confusion. The proceedings didn’t immediately resolve questions related to his local custody and potential transfer to the U.S., the WSJ said.: Bankman-Fried was unlikely to win his extradition fight, says Ira Lee Sorkin, a partner at Mintz & Gold who previously represented Bernie Madoff. If that is the case, waiving his extradition rights will simply speed up the legal process.
"Ultimately, he will, in my view, lose the extradition battle," says Sorkin. "As a practical matter, he would also prefer to be in a U.S. jail where he is closer to his lawyers.": Bankman-Fried is currently being held at the Fox Hill correction center in Nassau, a place known for its subpar living conditions according toThe center notably has a shortage of running water and toilets.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sam Bankman-Fried prosecutors target top Democrats for info on FTX donationsProsecutors investigating accused crypto grifter Sam Bankman-Fried have demanded information from high-level Democrats — including the Democratic National Committee, the Democratic Congressio…
Read more »
FTX founder Sam Bankman-Fried will not contest U.S. extradition in alleged fraud case, source saysFounder and former FTX CEO Sam Bankman-Fried will not contest extradition to the U.S. in an about face just days after being remanded to Bahamas prison.
Read more »
Sam Bankman-Fried, former FTX CEO, expected to waive extradition from Bahamas: SourcesNEW: Former FTX CEO Sam Bankman-Fried is prepared to waive extradition from the Bahamas during a court appearance that could occur as soon as Monday, multiple sources familiar with the matter told ABC News.
Read more »
Sam Bankman-Fried, founder of FTX, to waive extradition in Bahamas courtSam Bankman-Fried to appear in Bahamas court, where he’s expected to waive his extradition rights, according to a source with knowledge of the situation.
Read more »
Report: FTX Co-Founder Bankman-Fried Plans to Surrender to US Extradition Request – Bitcoin NewsDisgraced FTX co-founder Sam Bankman-Fried (SBF) has reportedly reversed his decision to contest his extradition to the United States.
Read more »