{"id":15583,"date":"2022-12-17T22:35:46","date_gmt":"2022-12-17T22:35:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-co-founder-bankman-fried-plans-to-surrender-to-us-extradition-request-bitcoin-news\/"},"modified":"2022-12-17T22:35:46","modified_gmt":"2022-12-17T22:35:46","slug":"ftx-co-founder-bankman-fried-plans-to-surrender-to-us-extradition-request-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-co-founder-bankman-fried-plans-to-surrender-to-us-extradition-request-bitcoin-news\/","title":{"rendered":"FTX Co-Founder Bankman-Fried Plans to Surrender to US Extradition Request \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Disgraced FTX co-founder Sam Bankman-Fried (SBF) has reportedly reversed his decision to contest his extradition to the United States. Bankman-Fried has spent close to five days in the Bahamas Department of Correctional Services (BDOCS) jail Fox Hill, an overcrowded prison known for being filthy and one that has been accused of prison maltreatment.<\/strong><\/p>\n

Reuters Source Says SBF Won\u2019t Fight U.S. Extradition Request on Monday<\/h2>\n

On Dec. 17, 2022, Reuters reported<\/a> that \u201ca person familiar with the matter said on Saturday\u201d that Sam Bankman-Fried (SBF) plans to be more accepting of being extradited to the United States. The source noted that SBF will \u201creverse his decision to contest extradition\u201d when he appears in court on Monday. The former FTX CEO was supposed to remain at Fox Hill until Feb. 8, 2023, after judge Ferguson-Pratt denied SBF\u2019s request to be released on bail.<\/p>\n

The news concerning SBF follows the stories<\/a> that noted the former FTX executive was residing in Fox Hill\u2019s sick bay dormitory style with five other inmates. The acting commissioner of The Bahamas Corrections, Doan Cleare, said that SBF was getting his meds and that he was in \u201cgood spirits.\u201d Reports had shown that Fox Hill\u2019s reputation for being clean and orderly is quite subpar,<\/a> according to a myriad<\/a> of human rights reports<\/a>.<\/p>\n

Reuters further detailed that SBF made a \u201cnew bail application before The Bahamas Supreme Court on Thursday,\u201d according to another source familiar with the matter. SBF was arrested on Dec. 12, 2022, and he was charged<\/a> with a number of financial fraud and conspiracy charges by the Southern District of New York (SDNY) prosecutor Damian Williams. SBF is also being sued<\/a> by the Commodity Futures Trading Commission (CFTC) and he was charged<\/a> by the U.S. Securities and Exchange Commission (SEC) for fraud as well.<\/p>\n

The Bahamas attorney general, Ryan Pinder, told the press<\/a> after SBF was arrested that the country was cooperating with the U.S. and that SBF would likely be extradited. SBF\u2019s parents are reportedly staying in the Bahamas, and they have allegedly tried<\/a> to get their son vegan foods. The day SBF\u2019s parents attended the first hearing a report claimed SBF\u2019s mother allegedly laughed out loud every time her son was called a \u201cfugitive.\u201d If SBF is to be extradited, there\u2019s a good chance he could go to a prison located in New York and would likely be kept in PC (protective custody).<\/p>\n

Meanwhile, no other FTX executives have been charged and the world is wondering where FTX co-founder Gary Wang is located or the ex-Alameda Research CEO Caroline Ellison<\/a>. Two days ago, it was discovered that FTX co-CEO Ryan Salame reportedly snitched<\/a> on SBF a couple of days before the company filed for bankruptcy protection. The unsealed indictment<\/a> only names Sam Bankman-Fried and his nickname SBF, while it also mentions others known and unknown who knowingly devised a scheme to defraud people.<\/p>\n

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\nTags in this story
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attorney Damian Williams<\/a>, Bahamas Jail<\/a>, Caroline Ellison<\/a>, CFTC<\/a>, conspiracy<\/a>, extradite<\/a>, extradition<\/a>, financial fraud<\/a>, Former FTX CEO<\/a>, Fox Hill<\/a>, FTX co-founder<\/a>, Gary Wang<\/a>, jail<\/a>, new york<\/a>, prison<\/a>, Ryan Pinder<\/a>, Ryan Salame<\/a>, Sam Bankman-Fried<\/a>, Sam Bankman-Fried (SBF)<\/a>, sbf<\/a>, SEC<\/a>, US Extradition<\/a><\/div>\n<\/div>\n

What do you think about the report that says the FTX co-founder SBF doesn\u2019t plan to contest extradition to the U.S.? Let us know what you think about this subject in the comments section below.<\/strong> <\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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