Former FTX CEO Sam Bankman-Fried, who’s presently within the custody of authorities within the Bahamas, is reportedly opting to be extradited to the US.
Based on a brand new report from Reuters, the disgraced former crypto mogul will seem in a Bahamian court docket at the moment to formally consent to his extradition.
The choice comes just a few days after Bahamas authorities arrested Bankman-Fried on the request of the US authorities.
The arrest was primarily based on an indictment issued by the Southern District of New York, which costs Bankman-Fried for six counts of fraud, one depend of conspiracy to commit cash laundering and one other depend of conspiracy to defraud the US and violate marketing campaign finance legal guidelines.
The 30-year-old FTX founder could have his preliminary court docket listening to inside 48 hours of his arrival within the US to enter a plea and permit a choose to find out if he can put up bail, in keeping with Reuters.
It’s unclear precisely what prompted Bankman-Fried’s determination to not contest his extradition to his dwelling nation, however a U.S. Division of State report describes a reasonably grim surroundings at Fox Hill jail within the Bahamas, the place the previous FTX CEO is presently remanded.
“Prisoners reported rare entry to nutritious meals and lengthy delays between each day meals. Most-security cells for males measured roughly six toes by 10 toes and held as much as six individuals with no mattresses or rest room amenities. Inmates eliminated human waste by bucket. Prisoners complained of the shortage of beds and bedding. Some inmates developed bedsores from mendacity on naked floor. Sanitation was a basic drawback, and cells have been infested with rats, maggots, and bugs. The federal government claimed to offer entry to bogs and showers one hour a day to prisoners in maximum-security areas.”
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