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SBF signs extradition papers to face retrial in US

SBF signs extradition papers to face retrial in US

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Sam Bankman-Fried, the jailed founder of cryptocurrency exchange FTX, reportedly signed papers Dec. 20 waiving his extradition hearing in the Bahamas and sees him flown to the United States, where he faces multiple criminal charges.

A hearing in the Bahamas Supreme Court on the matter has been scheduled for December 21. Bankman-Fried reportedly wanted to see the charges against him before agreeing to extradition to the US and was reportedly set to drop his extradition fight on December 19.

ABC News first reported the development on Dec. 20, citing Doan Cleare, the acting Commissioner of Corrections in the Bahamas.

Cointelegraph contacted the acting commissioner’s office for confirmation, but did not immediately receive a response.

With the papers signed, Bankman-Fried should be allowed to travel to New York, where he faces eight counts in an indictment from the US Attorney for the Southern District of New York.

He faces charges from the Justice Department for wire fraud, conspiracy to commit money laundering, conspiracy to commit wire transactions, commodity and securities fraud, and campaign finance violations.

The FTX founder faces further charges from the Commodity Futures Trading Commission (CFTC)/Securities and Exchange Commission (SEC) for violating commodities laws and defrauding investors.

The charges carry a maximum sentence of 115 years in prison if convicted on all counts.

Not in the hospital

Meanwhile, a Dec. 20 Instagram post by local media outlet Bahamas Press made the rounds on social media, claiming Bankman-Fried was “rushed” from prison to the hospital but was later debunked.

Related: SBF’s litigation still has “work to do,” according to legal commentators.

The New York Times financial reporter Rob Copeland tweeted shortly after that he was speaking to the head of the prison, who said the exchange founder was having lunch in the infirmary and that the rumor was false.

There are reports about it @SBF_FTX was taken to the hospital from his prison in the Bahamas.

That’s wrong, the head of the prison tells me. Like moments ago, Sam was eating lunch. He is still there in the infirmary, where he was held in a single room with four roommates.

— Rob Copeland (@realrobcopeland) December 20, 2022

Shortly thereafter, Bahamas Press issued an update saying its sources were now reporting that the claim was untrue.

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