(Reuters) – Former FTX CEO Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to oppose extradition to the United States, where he faces fraud charges, in connection with the case a person familiar with the matter said on Saturday.
The cryptocurrency mogul was indicted in federal court in Manhattan on December 13, accusing him of engaging in a scheme to defraud FTX customers. Prosecutors said he used stolen customer deposits to pay expenses and loans and make investments on behalf of his crypto hedge fund, Alameda Research LLC.
Bankman-Fried, 30, was arrested Monday in the Bahamas, where he lives and where FTX is located. He was sent to the Caribbean nation’s Fox Hill prison on Tuesday after Chief Magistrate Joanne Ferguson rejected his request to stay at home while he awaits his extradition hearing to the United States.
Neither a spokeswoman nor a US-based attorney for Bankman-Fried immediately responded to requests for comment. A spokeswoman for the US attorney’s office in Manhattan declined to comment.
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Bankman-Fried filed a new bail application before the Bahamas Supreme Court on Thursday, a person familiar with the matter told Reuters at the time.
(Reporting by Jasper Wordwriting by Luke Cohen; Editing by Chizu Nomiyama)
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