Exclusive: Sam Bankman-Fried to reverse decision on contesting extradition

[mystery-ak]

December 17, 20224:38 PM CSTLast Updated 2 hours ago
Exclusive: Sam Bankman-Fried to reverse decision on contesting extradition
By Jasper Ward

Dec 17 (Reuters) - Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday.

The 30-year-old cryptocurrency mogul was indicted in federal court in Manhattan on Tuesday and accused of engaging in a scheme to defraud FTX customers by using billions of dollars in stolen deposits to pay for expenses and debts and to make investments for his crypto hedge fund, Alameda Research LLC.

His decision to consent to extradition would pave the way for him to appear in U.S. court to face wire fraud, money laundering and campaign finance charges.

Upon arrival in the United States, Bankman-Fried would likely be held at the Metropolitan Detention Center in Brooklyn, though some federal defendants are being held at jails just outside New York City due to overcrowding at the facility, said defense lawyer Zachary Margulis-Ohnuma.

more
https://www.reuters.com/world/us/sam-bankman-fried-reverse-decision-contesting-extradition-source-2022-12-17/?taid=639e1e99c14c7a0001982e94&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

[GtHawk]

  Didn't take long at all staying at that wonderful resort prison to change his mind, did it

[Cyber Liberty]

Because we know the cameras at the Metropolitan Detention Center in Brooklyn are all in good, working order.

[LadyLiberty]

Fox Hill prison probably uses bacon in their peas 'n rice (a Bahamian staple), so it's not vegan enough. And it's a hell hole.

[mountaineer]

Because we know the cameras at the Metropolitan Detention Center in Brooklyn are all in good, working order.

No doubt.

[ChemEngrMBA]

Dec 17 (Reuters) - Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday.

The 30-year-old cryptocurrency mogul was indicted in federal court in Manhattan on Tuesday and accused of engaging in a scheme to defraud FTX customers by using billions of dollars in stolen deposits to pay for expenses and debts and to make investments for his crypto hedge fund, Alameda Research LLC.

What does it profit a man to gain the world but lose his soul.

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