newyorkcourt

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

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.

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.

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