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Wednesday, February 8, 2023

Sam Bankman-Fried Stands in Bahamas Court to Face Extradition; Court Considers Bail

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FTX Founder Sam Bankman-Fried appeared before Chief Magistrate Joyann Ferguson-Pratt on Tuesday to face extradition to the USA where a laundry list of criminal charges awaits him.

The 30-year-old crypto darling appeared dressed in a blue suit and white shirt for the arraignment proceedings, arriving in a SWAT vehicle and shoved through a side door of the courtroom, unshackled.

Reporters were not able to get photos of the disgraced crypto-white knight but his parents Stanford law professors Joseph and Barbara Bankman-Fried were spotted going into the Magistrate’s Court to watch their son be arraigned.

Bankman-Fried's parents arriving at court.
His parents arriving at the Nassau, Bahamas court on Tuesday. Photo credit: Reuters

It is possible the 30-year-old could fight the extradition since he did not waive his rights to be extradited to the US to face fraud and conspiracy charges.

“Mr. Bankman-Fried is reviewing the charges with his legal team and considering all of his legal options,” his lawyer, Mark S. Cohen said in a statement.

Outside of the courtroom where Sam Bankman-Fried is arraigned for extradition to the US. Photo credit: Keith Gomez

Bankman-Fried reportedly was permitted to take his medication as he requested and bail was being considered.

Bahamas police arrested Bankman-Fried on Tuesday on request by the US government and 8 criminal charges, among others, await him in a New York court.  The US Securities Commission has also alleged he defrauded investors out of billions of dollars and led them to believe their monies were safe.

 

Featured Image of Bahamas Court: Keith Gomez

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