Sam Bankman-Fried, the founder of collapsed crypto exchange FTX, will be extradited from the Bahamas to the United States and appear in court on Thursday. Meanwhile, two business partners of ‘SBF’ pleaded guilty.
A judge in the Bahamas, where FTX is headquartered, on Wednesday approved the extradition of Sam Bankman-Fried to his home country. Bankman-Fried did not contest that decision.
Corruption
Bahamas authorities arrested Bankman-Fried last Monday, after US authorities accused the 30-year-old of embezzlement through FTX.
If the FTX founder is found guilty of all charges against him by US authorities, he could spend decades behind bars. Bankman-Fried denies the allegations.
Business partners plead guilty
Meanwhile, two business partners of ‘SBF’ have been charged with ‘engaging in the fraud that led to the collapse of FTX,’ the New York attorney announced. They co-founded Bankman-Fried with Gary Wang and Carolyn Ellison, former president of crypto trading firm Alameda Research.
Both Wang and Ellison have pleaded guilty and are cooperating with the investigation, prosecutors said in a statement.
A judge in the Bahamas, where FTX is headquartered, on Wednesday approved the extradition of Sam Bankman-Fried to his home country. Bankman-Fried did not challenge that decision, and Bahamas authorities arrested Bankman-Fried last Monday. If the FTX founder is found guilty of all charges against him by US authorities, he could spend decades behind bars. Bankman-Fried denies the charges.Meanwhile, the New York attorney announced that two business partners of ‘SBF’ have been charged with ‘engaging in the fraud that led to the collapse of FTX’. They co-founded Bankman-Fried with Gary Wang and Carolyn Ellison, former president of crypto trading firm Alameda Research. Both Wang and Ellison have pleaded guilty and are cooperating with the investigation, prosecutors said in a statement.
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