NEW YORK – Sam Bankman-Fried told a Bahamian court Wednesday that he has agreed to be extradited to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX.The former FTX CEO appeared at a magistrate's court and is expected to return to the United States, according to Bahamian news organization Our News.Bahamian authorities arrested Bankman-Fried last week at the request of the U.S. government.
U.S. prosecutors allege he played a central role in the rapid collapse of FTX and hid its problems from the public and investors.The U.S. Securities and Exchange Commission said Bankman-Fried illegally used investors' money to buy real estate on behalf of himself and his family.
The 30-year-old could potentially spend the rest of his life in prison.Bankman-Fried was denied bail Friday after a Bahamian judge ruled that he posed a flight risk. The founder and former CEO of FTX, who was once worth tens of billions of dollars on paper, was being held in the Bahamas' Fox Hill prison.Once Bankman-Fried is back in the U.S., his attorney will be able to request that he be released on bail. Copyright 2022 The Associated Press.
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