FTX founder could be sent to US after extradition hearing
National News
Sam Bankman-Fried is back in a Bahamian court Wednesday for an extradition hearing that could clear the way for the one-time billionaire to be sent to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX.
In a court in Nassau, Bahamas, on Monday, Bankman-Fried’s lawyers said he had agreed to be extradited to the U.S., but the necessary paperwork had not yet been written up. If approved, Bankman-Fried could be on a plane to the U.S. as early as Wednesday afternoon.
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 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 jail. Bankman-Fried was denied bail Friday after a Bahamian judge ruled that he posed a flight risk. The founder and former CEO of FTX, once worth tens of billions of dollars on paper, is being held in the Bahamas’ Fox Hill prison, which has been has been cited by human rights activists as having poor sanitation and as being infested with rats and insects.
Once he’s back in the U.S., Bankman-Fried’s attorney will be able to request that he be released on bail.
Related listings
-
Texas to execute man for killing ex-girlfriend and her son
National News 11/16/2022A Texas inmate seeking to stop his execution over claims of religious freedom violations and indifference to his medical needs is scheduled to die Wednesday evening for killing his pregnant ex-girlfriend and her 7-year-old son more than 17 years ago....
-
Baton Rouge judge suspended for abusing power
National News 10/23/2022The Louisiana Supreme Court has suspended a Baton Rouge judge without pay for 180 days for abusing her power to hold people in contempt.East Baton Rouge Parish Family Court Judge Charlene Charet Day, who has held the seat since 2011, violated the law...
-
Bench trial for a man accused of killing 2 women in Phoenix
National News 10/02/2022A bench trial is scheduled to begin Monday for a man accused of sexually attacking and fatally stabbing two young women in separate killings nearly 30 years ago near a metro Phoenix canal system.Bryan Patrick Miller, 49, is charged with two counts ea...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.