Bankman-Fried could be extradited to the United States today

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Bankman-Fried was escorted out of the Bahamian Magistrate’s Court on Monday in a messy legal process over whether he would challenge the extradition. The return of SBFs to the United States could take place as early as Wednesday, according to multiple reports. Photo: Rebecca Blackwell (AP)

Santa-Fried is expected to bring crypto winter cheer to the United States soon. His sled will be a federal jet flying from the Bahamas to New York. The only studio door the hell can dodge his big mop of hair is a New York court where there’s a question about whether the hell should bail. His gift, addressed from Sam Bankman-Fried to Sam Bankman-Fried, will be a protracted court battle over allegations that he drained crypto users and investors of their money by treating his FTX crypto exchange like his own personal piggy bank. .

CNBC wrote late Tuesday that maligned FTX founder Bankman-Fried will return to the United States on Wednesday where he faces multiple federal charges of fraud, money laundering and campaign finance violations. Acting Commissioner of Corrections for the Bahamas, Doan Cleare, told CNBC that Bankman-Fried, who often uses his initials SBF, will come to the United States on a federal plane that is expected to land somewhere in New York.

It comes after a full day of chaos on Monday when, over the weekend, reports said SBF would no longer contest his extradition. His lawyer in the Bahamas, Jerone Roberts, was unaware of this last-minute decision, and it emerged in court that he was as confused as everyone else, saying that whatever lead had him brought here this morning, it didn’t involve me. After a day of wrangling and transferring the alleged fraudster from jail to court, back to jail and back to court, the FTX founder finally announced that he was not going to fight extradition.

Bahamian police arrested the crypto founder earlier this month at his luxury apartment facing US charges. He was held in the correctional facility best known as Fox Hill, which became infamous for its poor and inhumane prison conditions. He was reportedly held in the medical wing of the facility during the extradition battle.

It is currently unclear when Bankman-Frieds’ arraignment will take place and where it will be held. Gizmodo reached out to the US Attorney’s Office in New York for comment, but we didn’t immediately hear back.

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Fox News first reported Tuesday based on two unnamed sources that SBF will be released on bail after his attorney and the U.S. Attorney’s Office reached an agreement for the crypto founder to consent to extradition. The New York Times expanded on those details in a report on Wednesday, with three unnamed sources telling reporters that SBF would be released on bail but placed under house arrest. Electronic surveillance or other restrictive measures were also not out of the question. Although in the end, it all comes down to the approval of the federal judges.

Despite how quickly federal prosecutors filed charges against the 30-year-old crypto founder, a full court battle could take years to begin. In the meantime, FTX’s bankruptcy proceedings are ongoing and the company has appealed to several of these political campaigns that SBF has donated to seek the return of its money. These political donations could be key to federal charges, as U.S. Attorney Damian Williams noted that the FTX founder used money disguised to come from wealthy co-conspirators, but actually came from his users’ funds. trades.

As for what we already know about how Bankman-Fried funneled crypto users to his Alameda hedge fund on the sly, it looks like things will only get worse for the crypto founder, as those who manage the bankruptcy of FTX take the former leaders of the company to task.

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