9 days after being arrested within the Bahamas on a handful of criminal charges from the Securities and Trade Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC), former FTX CEO Sam Bankman-Fried is heading again to america to face them.
Bankman-Fried was being held within the Bahamas Division of Correctional Providers’ Fox Hill jail after being denied bail and was supposed to stay there till his subsequent listening to on February 8, 2023. However he may now arrive in New York as quickly as Wednesday afternoon to be arraigned within the Federal District Courtroom in Manhattan, in keeping with quite a few stories.
The costs got here after Bankman-Fried’s crypto alternate, which was as soon as one of many largest globally, collapsed final month as a liquidity disaster unfolded and the corporate withheld withdrawals. The allegations embody wire fraud, securities fraud and cash laundering.
Bankman-Fried signed paperwork on Tuesday surrendering himself to the U.S., in keeping with Bahamas Performing Commissioner of Corrections Doan Cleare. He’s anticipated to signal a separate group of paperwork finalizing his waiver of rights to combat extradition to the U.S. at Nassau’s Justice of the Peace’s Courtroom on Wednesday.
In response to Bloomberg News, Bankman-Fried will probably be introduced again to the U.S. on a personal aircraft alongside FBI brokers. Plans name for him to go from the jail to court docket Wednesday morning.
His arrival within the U.S. may expedite each prosecutors and legislators alike to dive deeper into the FTX collapse and uncover what really occurred to the once-valued $32 billion firm.
Final week, when requested whether or not the entities will convey fees in opposition to different people allegedly concerned within the FTX collapse, Damian Williams, the U.S. legal professional for the Southern District of New York, said during the event, “I can solely say this: Clearly, we aren’t finished.” There haven’t been any new fees introduced since.
On December 13, the U.S. Home Monetary Providers Committee held a listening to on the FTX collapse with one witness: new FTX CEO John J. Ray III. Through the four-hour listening to, Ray answered a lot of questions from authorities officers and shared some new info across the scenario, which you’ll be able to examine here.