FTX founder Sam Bankman-Fried agrees to US extradition

Fallen crypto mogul Sam Bankman-Fried has present decided to hold to beryllium extradited to the United States to look fraud charges, 2 of his lawyers said connected Monday, conscionable hours aft 1 of them told a Bahamas justice the FTX laminitis wanted to spot the US indictment against him earlier consenting.

On Monday afternoon, Jerone Roberts, Bankman-Fried’s transgression defence lawyer successful the Bahamas, told media outlets including the New York Times that his lawsuit had agreed to beryllium voluntarily extradited and that helium hoped Bankman-Fried would beryllium backmost successful tribunal aboriginal this week.

“We arsenic counsel volition hole the indispensable documents to trigger the court,” the Times quoted Roberts arsenic saying. “Mr Bankman-Fried wishes to enactment the customers close and that is what has driven his decision.”

Roberts could not instantly beryllium reached for comment.

Krystal Rolle, a lawyer who has represented Bankman-Fried connected different matters successful the Bahamas, told Reuters Bankman-Fried had decided to consent to beryllium extradited to the United States.

Earlier successful the day, Roberts said during a tribunal proceeding successful Nassau that his lawsuit had seen an affidavit laying retired the charges against him implicit FTX’s melodramatic collapse, but had not yet work the indictment filed past week successful Manhattan national court.

After the hearing, Bankman-Fried was remanded backmost to the custody of the Bahamas’ section of corrections. He departed the courthouse successful a achromatic van marked “Corrections,” carrying a manila folder containing papers, a Reuters witnesser said.

Mark Cohen, a US lawyer who represents Bankman-Fried, did not respond to requests for comment. The US attorney’s bureau successful Manhattan and a spokesperson for Bankman-Fried besides did not instantly respond to requests for comment.

The 30-year-old crypto mogul rode a roar successful the worth of bitcoin and different integer assets to go a billionaire respective times implicit and an influential governmental donor successful the United States, until FTX collapsed successful aboriginal November aft a question of withdrawals. The speech declared bankruptcy connected 11 November.

Manhattan national prosecutors person charged Bankman-Fried with stealing billions of dollars successful FTX lawsuit deposits to plug losses astatine his hedge fund, Alameda Research.
Bankman-Fried has acknowledged risk-management failures astatine FTX but said helium does not judge helium has transgression liability.

He was arrested connected 12 December successful the Bahamas – wherever helium lives and wherever FTX is based – aft national prosecutors successful New York accused him of misleading lenders and investors, conspiring to launder wealth and violating US run concern laws.

Bankman-Fried initially had said helium would combat extradition, but a root told Reuters connected Saturday that the erstwhile billionaire would instrumentality to tribunal to reverse his decision.

During Monday’s hearing, Bankman-Fried, dressed successful a acheronian bluish overgarment and an untucked achromatic shirt, spoke lone to greet Shaka Serville, the magistrate, and corroborate helium would talk with his US counsel. At 1 constituent during the hearing, helium leaned backmost with his eyes closed and appeared to beryllium awakened by a tribunal official.

Roberts told Serville initially that helium did not cognize wherefore Bankman-Fried was brought to tribunal connected Monday morning. Following a recess, the lawyer said Bankman-Fried wanted to spot the indictment earlier consenting to extradition. When the proceeding concluded, Bankman-Fried was fixed the accidental to talk connected the telephone with his US defence lawyer with Roberts present. No further tribunal day was set.

Serville said astatine the proceeding that helium could not instrumentality immoderate enactment connected Bankman-Fried’s extradition without Bankman-Fried’s consent.

“I tin lone beryllium moved by Mr Bankman-Fried and helium has not moved me,” Serville said. Franklyn Williams – the Bahamas’ lawman manager of ineligible affairs, who is representing the United States successful its propulsion to extradite Bankman-Fried – called the day’s proceedings “incredible” and appeared frustrated by the delay.