Bankman-Fried agrees to extradite him to the United States – against the wishes of his lawyer
Bankrupt Crypto Bankman-Fried Wants to Get Out of ‘Hell Nast’ Bahamas
Sam Bankman-Fred, CEO of the bankrupt cryptocurrency exchange FTX, has been imprisoned in the Bahamas since December 12. Now, against the will of his lawyer, he has agreed to be extradited to the United States.
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Barbed wire in front of the district court in Nassau (Bahamas): Apparently, FTX founder Sam Bankman Fried is tired of being imprisoned in the Bahamas.
Jean Claude RemyEditor Economics
Sam Bankman-Fried (30), CEO of the bankrupt cryptocurrency trading platform FTX, will have to answer before the US judicial authorities. During a busy day of negotiations in the Bahamas, he voluntarily decided to extradite him to the United States.
Bankman-Fried did not comment on his decision. The American media assume that Fred did not want to stay in prison for several months in the Bahamas, where conditions appear to be miserable. Fox Hill Prison, where he is currently held, is known as the “Hell Prison”.
The advice of the lawyer was not followed
On November 11, FTX went bankrupt. The question soon arose as to what role the Bankman-Fried leadership had played in the economic disaster. On December 12, the young businessman was finally arrested in the Caribbean archipelago in the Bahamas, where he resides and is the headquarters of FTX. As a result, the US Attorney’s Office formally charged Bankman-Fried with fraud and other misdemeanours.
At first, it was said that Bankman Fried would fight extradition. He also mentioned in preliminary statements that he might be accused of being naive, but not of being involved in any criminal activity. But now his position has changed. This is despite the fact that his lawyers in the Bahamas strongly advised against extradition, as reported by The New York Times.
Back and forth for nothing
On Monday, December 19, Bankman-Fried appeared in a district court in Nassau, the capital of the Bahamas. His attorney, Jeron Roberts, expressed surprise at the subpoena and requested time to have a private conversation with his client. After that, he wanted more time to discuss the issue in depth. And then Bankman Fried was sent back to prison. But in the end, the lawyer’s maneuvers have no effect: Bankman-Fried wants to stand trial in the United States.
Perhaps it is actually a “hell prison”. However, it is also important to note that an extended extradition challenge may go down badly with the US Attorney’s Office. This, in turn, will have consequences for the amount of punishment.
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