According to a report from Reuters on December 17 citing a source with knowledge of the situation, the founder of the now bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried has changed his mind about contesting extradition.
The former FTX executive was stated to appear in a court in the Bahamas on December 19 to seek a reversal. Bankman-Fried would be entitled to make an appearance before a court in the United States if he agreed to his extradition.
He is accused of conspiracy to perpetrate wire fraud on clients and lenders in addition to securities fraud, commodities fraud, money laundering, and conspiracy to deceive the United States and violating the campaign finance law.
This comes after the SBF had his bail application turned down on December 13 due to a “risk of flight.” According to reports, a second application for parole was submitted to the Supreme Court of the Bahamas on December 15.Meanwhile, following his detention in the Bahamas at the request of the United States, Bankman-Fried is currently being held in the United States.
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