Sam Bankman-Fried: Bahamas Orders Extradition to US of FTX Digital Currency Creator

The authorities of Bahamas They ordered the extradition of the founder and former head of the FTX cryptocurrency platform Sam Bankman-Fried on Wednesday to face fraud charges in New York.

In a statement, the attorney general of BahamasRyan Pinder, said that Bankman-Fried he had waived his right to challenge the extradition.

SIGHT: What are they accusing Sam Bankman-Fried of, the billionaire behind the crash of cryptocurrencies who was captured in the Bahamas

The Foreign Office reported separately that Minister Frederick Mitchell had signed an order to surrender Bankman-Fried to US authorities under a bilateral extradition treaty.

Local television Eyewitness News said the FTX founder was expected to leave the Bahamas on Wednesday night.

The decision came nine days after the one-time cryptocurrency wunderkind was arrested at his luxurious Nassau apartment at the request of USA.

Just a few weeks earlier, his virtual currency firm FTXbased in Bahamasthree years old, and its sister trading house, Alameda Research, have filed for bankruptcy. The business had been valued by the market at $32 billion.

On December 13, federal prosecutors in New York unsealed an indictment against Bankman-Fried consisting of eight counts, including conspiracy, wire fraud, money laundering and election finance violations.

They alleged that the 30-year-old businessman misled investors and abused funds belonging to clients of FTX and Alameda Research.

Bankman-Fried “For years he was orchestrating a massive fraud, siphoning off billions of dollars of trading platform client funds for his own personal gain and to help grow his crypto empire,” US prosecutors said.

The US stock market regulator, the SEC, in turn accused him of violating security laws.

Bankman-Friedwho has permanent residence in Bahamasserved six days in Nassau’s Fox Hill Jail, weighing his options before telling the Nassau magistrate court on Wednesday that he would not oppose his extradition.

No information was given about when he would arrive in New York and appear in court.

According to US media, his lawyers were trying to negotiate with US judicial authorities for his release on bail.

Source: Elcomercio

jack

I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.