Sam Bankman-Fried, who is facing charges in the U.S. following the collapse of his cryptocurrency exchange, FTX, is prepared to waive extradition from the Bahamas.
Sam Bankman-Fried, who founded and led FTX until a liquidity crunch forced the cryptocurrency exchange to declare bankruptcy, is escorted out of the Magistrate Court building after his arrest in Nassau, Bahamas, Dec. 13, 2022.in the United States following the collapse of his cryptocurrency company, FTX, is prepared to waive extradition from the Bahamas during a court appearance that could occur as soon as Monday, multiple sources familiar with the matter told ABC News.
A judge denied Bankman-Fried bail in the Bahamas, where he was arrested on Dec. 12, and has been held in the medical ward of the island's Fox Hill prison. After federal charges against him were unsealed, defense attorney Mark Cohen said Bankman-Fried was reviewing the indictment and considering his options.A U.S. government plane is waiting in the Bahamas to bring Bankman-Fried to New York, where he lived in a $30 million penthouse while running FTX until it collapsed in a $32 billion bankruptcy in November.
Since the collapse of FTX, federal prosecutors in the Southern District of New York have been looking at Bankman-Fried, sources have told ABC News.
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