Former FTX CEO Sam Bankman-Fried, who’s at the moment within the custody of authorities within the Bahamas, is reportedly opting to be extradited to the US.
In line with a brand new report from Reuters, the disgraced former crypto mogul will seem in a Bahamian courtroom at this time to formally consent to his extradition.
The choice comes a couple of days after Bahamas authorities arrested Bankman-Fried on the request of the US authorities.
The arrest was based mostly on an indictment issued by the Southern District of New York, which costs Bankman-Fried for six counts of fraud, one rely of conspiracy to commit cash laundering and one other rely of conspiracy to defraud the US and violate marketing campaign finance legal guidelines.
The 30-year-old FTX founder may have his preliminary courtroom listening to inside 48 hours of his arrival within the US to enter a plea and permit a decide to find out if he can publish bail, in keeping with Reuters.
It’s unclear precisely what prompted Bankman-Fried’s determination to now not contest his extradition to his house nation, however a U.S. Division of State report describes a quite grim atmosphere at Fox Hill jail within the Bahamas, the place the previous FTX CEO is at the moment remanded.
“Prisoners reported rare entry to nutritious meals and lengthy delays between day by 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 bathroom 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 normal downside, 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.”
This text first appeared on DailyHODL
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