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FTX founder agrees in court to extradition, will to fly to US

Bahamas FTX Bankman Fried Arrested
Posted at 12:51 PM, Dec 21, 2022
and last updated 2022-12-21 15:51:38-05

Former FTX CEO Sam Bankman-Fried, 30, said in court in the Bahamas on Wednesday that he agreed to be extradited back to the United States to face charges related to the collapse of his cryptocurrency exchange FTX.

Bankman-Fried was set to leave court and head to "Odyssey Aviation" to return to the U.S. according to the Bahamian outlet Our News.

As Our News reported, his attorney Jerone Roberts read out a sworn affidavit that confirmed his wish to be extradited.

According to the Securities and Exchange Commission (SEC), Bankman-Fried used investor funds to purchase real estate for himself and his family, illegally.

He was arrested last week in the Bahamas after a request from the U.S. was received from prosecutors who said he was central in the fast fall of the FTX crypto exchange.

He was denied bail on Friday by a judge in the Bahamas after being labeled a flight risk.

Bankman-Fried is accused of hiding his company's issues from investors and the public, the Associated Press reported.

He faces a potential life sentence for his crimes.

The 30-year-old could potentially spend the rest of his life in jail.