Sam Bankman-Fried agrees to US extradition ‘to put the customers proper’: Report

Former FTX CEO Sam Bankman-Fried, at present in the custody of Bahamian authorities, has reportedly agreed to be extradited to the United States to face expenses.

According to a Dec. 19 report from Reuters, Bankman-Fried’s authorized staff mentioned it deliberate to put together paperwork to have him reappear earlier than the Bahamas Magistrate Court someday this week. The former FTX CEO attended an emergency listening to of the courtroom simply hours earlier with none seeming adjudication or ruling — he returned to jail following the occasion.

“Mr. Bankman-Fried needs to put the customers proper, and that’s what has pushed his resolution,” reportedly mentioned Jerome Roberts, on SBF’s authorized staff.

Bankman-Fried reportedly needed to see the indictment in opposition to him earlier than agreeing to be extradited to the United States. He faces expenses from the Justice Department, Commodity Futures Trading Commission, and Securities and Exchange Commission associated to defrauding traders and lenders in addition to violations of marketing campaign finance legal guidelines, and could possibly be a 115-year sentence if convicted.

Related: SBF’s authorized battle nonetheless has “lots to play out,” in accordance to authorized commentators

The former FTX CEO has been in the custody of Bahamian authorities since Dec. 12, when native police arrested him as a part of extradition proceedings with the U.S. Until then, Bankman-Fried had been recurrently giving interviews to main media retailers and was anticipated to testify earlier than a minimum of one congressional listening to.