FTX Ex-CEO Takes Court in SBF Bahamas: Will He Be Extradited? Here’s What They Said First

He was brought before the Magistrates Court this morning with a provisional arrest warrant to be extradited to the United States. cryptocurrency exchange FTX CEO Sam Bankman-Fried (SBF) is objecting to the refund.

Sam Bankman-Fried’s Lawyer Demands Bail and Appeals Extradition

His lawyer, Jerone Roberts, argued that the court had jurisdiction to assess bail, while Prosecutor Franklyn Williams claimed that the court had no such authority.

Williams, who represents the United States government, said the SBF was at risk of escaping. He added that Bankman-Fried was going to run, and he had good reason for that. Roberts argued that the SBF is a permanent citizen living in the Bahamas.

The court adjourned for an hour for Feguson-Pratt to consider the arguments.

Police this morning brought FTX founder Sam Bankman-Fried before Chief Justice Joyann Ferguson-Pratt at the Magistrates’ Court on South Street in Nassau.

Ferguson-Pratt asked him if he had had a chance to speak to his lawyers since his arrest last night.

Bankman-Fried, who wore a suit and not a tie, said he did not speak.

Shortly after 10:30, Ferguson-Pratt adjourned the court for 30 minutes so that he could speak with his attorney, Jerone Roberts.

Before that, the judge also asked Bankman-Fried if he had breakfast, and Bankman-Fried replied “Yes”. Bankman-Fried’s family, as well as representatives from the US Embassy, ​​were in court.

The former CEO of FTX, whose billion-dollar company went bankrupt last month, was arrested after Bahamian authorities received official notification from the United States that a criminal complaint was filed against him and will likely seek his extradition, the Office of the Attorney General said last night.

Police said Bankman-Fried was arrested for various financial crimes he committed against United States law, which is also criminal in the Bahamas.

*Not investment advice.