CNN
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Former FTX CEO Sam Bankman-Fried is predicted to look in a Bahamas courtroom on Monday to reverse his determination to contest extradition to the US, an individual accustomed to the matter advised CNN.
The New York Instances additionally reported that Bankman-Fried is predicted to comply with extradition to the US, citing an individual briefed on the matter.
CNN has reached out to Bankman-Fried’s legal professionals, and the Bahamas Legal professional Basic.
The Bahamas police PIO Superintendent Chrislyn Skippings advised CNN on Sunday, “If he does go to courtroom tomorrow it will be at Nassau road courtroom advanced,situated on Nassau road and South streets.”
Final Tuesday, federal prosecutors from the Southern District of New York charged Bankman-Fried with eight counts of fraud and conspiracy. Bankman-Fried might resist 115 years in jail if convicted on all eight counts towards him, although he probably wouldn’t get the utmost sentence.
On high of that, US market regulators filed civil lawsuits accusing Bankman-Fried of defrauding traders and prospects, saying he “constructed a home of playing cards on a basis of deception whereas telling traders that it was one of many most secure buildings in crypto.”
Bankman-Fried stays within the Bahamas, the place FTX was based mostly, and was arrested final Monday evening. He was arraigned Tuesday, and a Bahamian choose denied his request for bail, saying that he posed a flight danger. His extradition to america might take weeks.
– Allison Morrow contributed to this report.
