SBF, charged with eight separate counts, agreed to be extradited to the United States to face a battery of criminal charges when he appeared in court on Monday. (Archyde.com file photo)
[Financial Channel/Comprehensive Report]Former cryptocurrency exchange FTX CEO Sam Bankman-Fried (SBF) is expected to appear in court in the Bahamas on Monday (19th). series of criminal charges.
SBF has been held in the Bahamas since his arrest last Monday at the request of U.S. authorities. Recently, the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) accused SBF of defrauding investors, and was charged by U.S. prosecutors with a series of financial crimes.
During SBF’s first court appearance, his lawyer said that if all charges against him were proven, SBF would oppose deportation to the United States. According to a Archyde.com report, SBF has reversed its attitude. He will give up his previous decision against extradition and agree to extradition to the United States when the court opens on Monday.
In the face of the largest financial fraud case in U.S. history, U.S. prosecutors released a 13-page federal indictment on the 13th, accusing SBF of being involved in securities fraud, wire transfer fraud, commodity fraud, money laundering, defrauding the United States, and criminal charges. Eight separate charges including campaign finance violations.
It is unclear what prompted the SBF to change its mind and decide not to oppose extradition.
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