Failed cryptocurrency exchange of FTX has ordered the extradition of his former boss, Sam Bankman-Fried, to the United States at his trial in the Bahamas today.
According to sources, Bankman-Fried’s lawyer, Jerone Roberts, said the defendant had waived his right to appeal extradition. The founder of the FTX exchange is expected to enter the US territory in the near future.
SBF was arrested in the Bahamas on charges of digital fraud and money laundering on Monday of the previous week, at the request of the American government. The indictment also includes charges that the former CEO deceived customers and lenders and violated campaign-finance laws.
This is not the only indictment regarding Bankman-Fried. The American Securities and Exchange Commission SEC is investigating the exchange’s transfer of assets to Alamenda Research and donations to politicians without notifying customers.
The 30-year-old young crypto entrepreneur could face a 115-year prison sentence if all charges against him are pleaded.
Why Does Bankman-Fried Want to Return?
The boss of FTX, which rose rapidly and went bankrupt, refused extradition during the first hours of his arrest. But the poor prison conditions in the Bahamas completely changed Bankman-Fried’s mind. SBF’s lawyers had announced that an extradition appeal hearing would take place on February 8, following the initial arrest.
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