Media reports: Sam Bankman-Fried agrees to extradition to the United States

FTX founder Sam Bankman-Fried (SBF) has agreed to extradition to the United States, where he faces charges of fraud and money laundering. Bloomberg reports.

Doan Cleer, Acting Commissioner of the Bahamas Department of Corrections, told the agency that SBF signed the extradition documents on December 20.

“The fight against extradition could take years. I suppose he probably didn’t want to stay here for four or five years,” Cleer explained in a conversation with The Tribune.

According to him, on December 21 Bankman-Fried should confirm his decision. After this, as expected, the former exchange chief will be transported to the United States on a private flight.

According to the New York Times, SBF’s lawyers are discussing with the federal prosecutor’s office the possibility of his release on bail. The agreement reportedly could include “extremely restrictive conditions,” such as home arrest and an electronic bracelet.

On December 12 Bahamian authorities arrested Bankman-Fried on request of the U.S. government. The court denied his bail petition of $250,000, citing high flight risk.

On December 18 Reuters sources said that SBF refused to contest extradition to the United States.

As noted, U.S. prosecutors charged the former head of the exchange eight criminal charges, including conspiracy and fraud involving electronic funds. He faces up to 115 years in prison.

Bankman-Fried also faced lawsuits from U.S. regulators. SEC organizing a fraudulent scheme, deceiving investors and misusing client funds. CFTC charged him with violations of the Commodity Exchange Act.

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