Saturday, June 3, 2023

What’s Next for Sam Bankman-Fried When He Arrives in the United States Today

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After former FTX Founder Sam Bankman-Fried signed extradition papers to face criminal charges in the United States, he will be handed over to US Marshalls.

The Bahamas judge Shaka Serville has approved all of the legal requirements for the extradition and was satisfied that Bankman-Fried was not “forced, coerced or threatened” into making the decision.

The 30-year-old  will be handcuffed and placed on board a plane with an escort from the FBI and the United States Marshals Service which have already arrived in the Bahamas. They will then carry him to La Guardia or JFK Airport.

He will either go to the federal detention facility or a Manhattan courtroom in the Southern District of New York. If he is sent to court, there will be an initial hearing and arraignment before a judge and he will enter a plea to the 8 charges against him.

Following a tumultuous week since his arrest in the Bahamas,  he is expected to arrive in the United States on Wednesday evening and will contest allegations that he funneled billions of dollars from his fallen exchange FTX, to his trading fund company, Alameda Research.

“Yes, I do wish to waive my right to such formal extradition proceedings,” he told the court on Wednesday morning.

His defense lawyer Jerone Roberts said his client was “anxious to leave” the Bahamas and requested that the “rule of specialty” be imposed which based on the Bahamas and US extradition treaty, states that a person can only be tried on the charges for which they are extradited.

Photo credit: Reuters

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