Former FTX CEO Sam Bankman-Fried, at the moment in the custody of Bahamian authorities, has reportedly agreed to be extradited to the United States to face fees.
According to a Dec. 19 report from Reuters, Bankman-Fried’s authorized staff mentioned it deliberate to put together paperwork to have him reappear earlier than the Bahamas Magistrate Court someday this week. The former FTX CEO attended an emergency listening to of the court docket simply hours earlier with none seeming adjudication or ruling — he returned to jail following the occasion.
“Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision,” Jerome Roberts, on SBF’s legal team, was quoted as saying.
Bankman-Fried reportedly had wanted to see the indictment against him before he agreed to be extradited to the United States. He faces charges from the Justice Department, the Commodity Futures Trading Commission and the Securities and Exchange Commission related to defrauding investors and lenders as well as violations of campaign finance laws. He could be looking at a 115-year sentence if convicted.
Related: SBF’s legal battle still has “rather a lot to play out,” in accordance to authorized commentators
The former FTX CEO has been in the custody of Bahamian authorities since Dec. 12, when native police arrested him as a part of extradition proceedings with the U.S. Until then, Bankman-Fried had been recurrently giving interviews to main media shops and was anticipated to testify earlier than no less than one congressional listening to.