Cryptocurrency magnate Sam Bankman Fried agrees to be extradited to the US from the Bahamas

Sam Bankman-Fried agreed to extradite him to the United States from the Bahamas.

the FTX An attorney for the founder of the cryptocurrency exchange read an affidavit to a court in Nassau on Wednesday, confirming that his client was willing to travel to New York.

As a result, the 30-year-old businessman may be airlifted as early as Wednesday afternoon local time to face a host of fraud charges.

Bankman Fried It decided to agree to the extradition in part out of “a desire to make the respective clients whole,” according to the Dec. 20 affidavit.

Dressed in a suit, Bankman took Fried to the witness box and told the judge, “Yes, I wish to waive my right to these extradition formalities.”

His lawyer told the judge that his client was “eager to leave”.

The session was adjourned after statements were made.

Bankman-Fried appeared in court in Nassau on Wednesday and did not challenge his extradition

Officials from the FBI and the US Marshals Service — which handles the transportation of individuals in US custody — have already arrived in the Bahamas capital, according to a person familiar with the matter.

It is currently unclear when Bankman-Fried will leave the Bahamas for New York.

Federal prosecutors in Manhattan charged last week Cryptocurrency A tycoon with the theft of billions of dollars in assets from FTX clients to plug losses at his hedge fund, Alameda Research, in what US Attorney Damian Williams called “one of the largest financial frauds in American history.”

Bankman-Fried was arrested on a US extradition request last week in the Bahamas, where he lives and FTX is based.

He initially said he would contest the extradition, but at the end of the week it was reported that he would overturn that decision.

Bankman-Fried acknowledged the failure of risk management at FTX but said he did not believe he had criminal liability.

His personal wealth is believed to have swelled to $20 billion (£16.2 billion) at the stock exchange’s peak, but has since shrunk to $100,000 (£83,000).

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How FTX founder Sam Bankman-Fried went from £21 billion empire to being accused of fraud

Wednesday’s hearing follows a baffling series of events this week that have left Pinkman-Fried’s expected extradition status unclear.

On Monday, following news reports that he had agreed to be extradited, Bankman-Fried arrived at the courtroom in a black van marked “PORRECTION” wearing a blue jacket and white T-shirt.

At the hearing, his local attorney, Jeron Roberts, said he was not informed of the purpose of the proceedings.

After a short break, Mr Roberts said his client had seen an affidavit outlining the charges but wanted access to the full charge sheet before agreeing to extradition.

Then the proceedings were postponed. It was expected to appeal on Tuesday morning, but the legal papers for Bankman-Fried were not filed in time.

Bankman-Fried rode the cryptocurrency boom to become a multi-time billionaire and an influential political donor in the US, before the FTX crash wiped out his fortune and tarnished his reputation.

The crash was spurred on by a wave of customer withdrawals amid concerns that the funds were mixed with Alameda.

Cryptocurrency exchange Declared bankruptcy on November 11 with Bankman Fried stepping down as CEO on the same day.

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