9 days after being arrested within the Bahamas on a handful of felony expenses from the Securities and Trade Fee (SEC) and the Commodity Futures Buying and selling Fee (CFTC), former FTX CEO Sam Bankman-Fried is heading again to the USA to face them.
Bankman-Fried was being held within the Bahamas Division of Correctional Companies’ Fox Hill jail after being denied bail and was supposed to stay there till his subsequent listening to on February 8, 2023. However he might now arrive in New York as quickly as Wednesday afternoon to be arraigned within the Federal District Courtroom in Manhattan, in line with quite a few stories.
The fees got here after Bankman-Fried’s crypto trade, which was as soon as one of many largest globally, collapsed final month as a liquidity disaster unfolded and the corporate withheld withdrawals. The allegations embody wire fraud, securities fraud and cash laundering.
Bankman-Fried signed paperwork on Tuesday surrendering himself to the U.S., in line with Bahamas Performing Commissioner of Corrections Doan Cleare. He’s anticipated to signal a separate group of paperwork finalizing his waiver of rights to battle extradition to the U.S. at Nassau’s Justice of the Peace’s Courtroom on Wednesday.
In line with Bloomberg Information, Bankman-Fried will probably be introduced again to the U.S. on a non-public airplane alongside FBI brokers. Plans name for him to go from the jail to courtroom Wednesday morning.
His arrival within the U.S. might expedite each prosecutors and legislators alike to dive deeper into the FTX collapse and uncover what actually occurred to the once-valued $32 billion firm.
Final week, when requested whether or not the entities will carry expenses towards different people allegedly concerned within the FTX collapse, Damian Williams, the U.S. legal professional for the Southern District of New York, mentioned in the course of the occasion, “I can solely say this: Clearly, we’re not completed.” There haven’t been any new expenses introduced since.
On December 13, the U.S. Home Monetary Companies Committee held a listening to on the FTX collapse with one witness: new FTX CEO John J. Ray III. Throughout the four-hour listening to, Ray answered quite a few questions from authorities officers and shared some new info across the state of affairs, which you could possibly examine right here.