SBF signs extradition papers, set to return to face charges in the US

Sam Bankman-Fried, the jailed founding father of the FTX cryptocurrency change has reportedly signed papers on Dec. 20 waiving his extradition listening to in the Bahamasand see him flown to the United States to face a number of prison charges.

A listening to in the Bahamas Supreme Court was set for Dec. 21 relating to the matter. Bankman-Fried reportedly wished to see the indictment in opposition to him earlier than he agreed to extradition to the U.S. and was anticipated to drop his extradition struggle in accordance to experiences on Dec. 19.

ABC News first reported the improvement on Dec. 20 citing the Bahamas appearing commissioner of corrections Doan Cleare.

Cointelegraph contacted the appearing commissioner’s workplace for affirmation however didn’t instantly obtain a response.

With the papers signed, Bankman-Fried ought to be permitted to transit to New York the place he faces eight counts in an indictment from the U.S. Attorney for the Southern District of New York.

He faces charges from the Department of Justice relating to wire fraud, conspiracy to commit cash laundering, conspiracy to commit wire, commodities and securities fraud, and marketing campaign finance violations.

The FTX founder faces additional charges relating to commodity legislation violations and defrauding traders from the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) respectively.

The charges carry a most sentence of 115 years in jail if convicted of all counts.

Not in hospital 

Meanwhile, a Dec. 20 Instagram publish from native media outlet Bahamas Press claiming Bankman-Fried was “rushed” to hospital from jail had made the rounds on social media, however was later debunked.

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

New York Times monetary reporter Rob Copeland tweeted quickly after that he spoke to the head of the jail who stated the change founder was consuming lunch in the medical bay and that the rumor was false.

Soon after, Bahamas Press posted an replace saying its sources had been now reporting the declare was unfaithful.