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Sam Bankman-Fried Agrees to US Extradition ‘to put the Customers Right’: Report

The former FTX CEO had just returned to prison after attending an emergency hearing in the Bahamas Magistrate Court.

Former FTX CEO Sam Bankman-Fried, who is currently being held by Bahamian authorities, is said to have agreed to be extradited to the United States to face charges.

According to a Dec. 19 report from Reuters, Bankman-legal Fried’s team said it planned to prepare documents to have him reappear before the Bahamas Magistrate Court sometime this week. The term “responsibility” refers to the act of determining whether or not a person is responsible for his or her own actions.

“Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision,” SBF’s legal team member Jerome Roberts was quoted as saying.

Before agreeing to be extradited to the United States, Bankman-Fried reportedly demanded to see the indictment against him. The Justice Department, the Commodity Futures Trading Commission, and the Securities and Exchange Commission have all charged him with defrauding investors and lenders, as well as violating campaign finance laws. If convicted, he could face a 115-year sentence.

The former FTX CEO has been in the custody of Bahamian authorities since Dec. 12, when local police arrested him as part of extradition proceedings with the U.S. Until then, Bankman-Fried had been regularly giving interviews to major media outlets and was expected to testify before at least one congressional hearing.


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