FTX founder Sam Bankman-Fried leaves Bahamas for US after agreeing to be extradited
Bankman-Fried could spend remainder of life in jail for charges related to collapse of FTX
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Sam Bankman-Fried, the disgraced founder of the now-collapsed cryptocurrency exchange FTX, departed The Bahamas for the United States early Wednesday evening after agreeing to be extradited.
The Bahamas’ Office of the Attorney General announced Bankman-Fried's imminent departure earlier Wednesday. The announcement came after Bankman-Fried told a Bahamian court he has agreed to be extradited to the U.S. to face criminal charges related to last month’s collapse of FTX.
Bankman-Fried appeared at a Magistrate's Court and was expected to head to Odyssey Aviation to return to the United States, Bahamian news organization Our News reported.
SAM BANKMAN-FRIED'S EXTRADITION HEARING SET FOR WEDNESDAY
Bahamian authorities arrested Bankman-Fried last week at the request of the U.S. government. U.S. prosecutors allege he played a central role in the rapid collapse of FTX and hid its problems from the public and investors. The Securities and Exchange Commission said Bankman-Fried illegally used investors' money to buy real estate on behalf of himself and his family.
FTX founder Sam Bankman-Fried, center, is escorted from a Corrections Department van as he arrives at the Magistrate Court building for a hearing, in Nassau, Bahamas, Wednesday, Dec. 21, 2022. (AP Photo/Rebecca Blackwell / AP Newsroom)
Bankman-Fried was denied bail Friday after a Bahamian judge ruled that he posed a flight risk. Once he's back in the U.S., Bankman-Fried's attorney can request that he be released on bail.
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Bankman-Fried is expected to have his first court appearance in the Southern District of New York. The 30-year-old could potentially spend the rest of his life in jail.
FOX Business’ Greg Norman and The Associated Press contributed to this report.