SBF Defies Legal Advice, Set For Extradition To U.S

SBF Defies Legal Advice, Set For Extradition To U.S. 

Disgraced former CEO of bankrupt cryptocurrency exchange FTX Sam Bankman-Fried has reportedly defied all the warnings given to him by his lawyers and has agreed to be extradited to the U.S.

SBF To Return To The U.S

Following his Monday hearing in the Bahamas, Sam Bankman-Fried (SBF) has reportedly signed all the necessary paperwork on December 20th for his extradition to the U.S.

According to The New York Times, SBF’s lawyer in the Bahamas, Jerone Roberts says that he was ‘shocked’ to see the former CEO in court to agree with the extradition rather than contest it. Roberts explains that Bankman-Fried had defied “the strongest possible legal advice” by agreeing to the extradition voluntarily. 

After signing a number of the extradition papers, including the final one on Wednesday, December 21st, SBF is expected to be taken into custody by U.S FBI agents who will place Bankman-Fried on a private flight to return to the U.S possibly as early as the very same day. 

Related: SBF Plans To Agree To Extradition To The US: Report

What Next For SBF

Once he lands in the United States, SBF will most likely be detained at the Metropolitan Detention Center in Brooklyn before he will appear at the Federal District Court in Manhattan for his hearing.

The former CEO and billionaire will face up to 8 different charges including conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to defraud the United States and violate the campaign finance laws. 

If found guilty on all these charges, SBF could be facing a combined maximum sentence of 115 years in prison, essentially a life sentence.

Related: Visa Reveals Proposal For Auto-Payments On Ethereum! 

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