FTX founder Bankman-Fried extradited to USA

Sam Bankman Fried

The FTX founder wants to face justice in the United States.

(Photo: AP)

Nassau Two top executives have pleaded guilty to fraud in connection with the bankruptcy of cryptocurrency exchange FTX, US Attorneys said on Wednesday. Caroline Ellison, the former head of Alameda Research, and Gary Wang, the former chief technology officer of FTX, have been charged over their role in the alleged fraud that is said to have led to the collapse of FTX. Both stated that they would work with the public prosecutor to clarify the background of the bankruptcy.

Former CEO Sam Bankman-Fried was extradited from the Bahamas to the United States on Wednesday. This was announced by the authorities of the Caribbean state on Wednesday (local time). There he is to be tried in connection with the collapse of the trading center for digital currencies, which has serious consequences for the industry.

FTX founder Bankman-Fried does not contest extradition to the USA

The Attorney General’s Office in the Bahamas announced that Bankman-Fried’s departure for the United States was planned for Wednesday evening. He waived his right to challenge extradition. Journalists watched him leave court in the capital, Nassau, and drive away in a dark-colored SUV. The vehicle was later seen arriving at a private airstrip at Nassau Airport.

Bankman-Fried is expected to appear before a US judge on Thursday. He is accused of playing a central role in FTX’s rapid collapse and hiding the crypto exchange’s woes from the public and investors. The US Securities and Exchange Commission said he used the money from investors to buy real estate for himself and his family. The 30-year-old faces a potential life sentence.

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First publication: 22.12.2022, 01:28 (last updated: 04:34).

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