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It’s official — Sam Bankman-Fried will soon be extradited to the US

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Sam Bankman-FriedSam Bankman-Fried in the Bahamas on Dec. 21. He’s set to be extradited to the US soon, per reports.

Marco Bello/Reuters

  • Sam Bankman-Fried will be heading to the US after over a rough week in a Bahamas prison, per WSJ and NYT.
  • The former FTX CEO is expected to arrive in New York as soon as Wednesday.
  • A federal court in Manhattan would determine bail, amid criminal charges filed against Bankman-Fried.

Sam Bankman-Fried is expected to arrive in New York as soon as Wednesday, after a court in the Bahamas reportedly signed off on the US government’s request to extradite him

The ruling, reported by the Wall Street Journal on Wednesday, would bring the former FTX CEO to the US, where he would appear before a federal court in Manhattan, in light of prosecutors’ criminal charges against him. The New York Times has also reported Sam Bankman-Fried is set to be extradited.

A representative for Mr. Bankman-Fried did not immediately respond to a request for comment on Monday afternoon. 

An indictment unsealed this month against Bankman-Fried revealed 8 counts, including for wire fraud and several conspiracy charges. The charges could result in severe penalties, depending on factors including the extent of harm to FTX’s investors and customers, who are now looking to a bankruptcy court in Delaware to help them recoup at least some of their losses. 

The New York federal court overseeing the criminal case is expected to decide on bail when Bankman-Fried first appears in court after his arrival to New York. The court would then also schedule an initial hearing in the case. 

Read the original article on Business Insider
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