Monday, June 5, 2023

Sam Bankman-Fried contest to reverse decision on extradition – source

(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.

political cartoon on world leaders

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)

Copyright 2022 Thomson Reuters,

Times of National
Times of National
Times of National To give more information about the latest happenings, news related to happenings in the country and abroad a casual understanding of the latest technology products and gadgets, celebrity news and gossip, latest movie news, sports, and cricket scores all you need Always ready to fulfill whatever else is becoming a part of our life nowadays.
Latest news
Related news


Please enter your comment!
Please enter your name here