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Sam Bankman-Fried to Reverse Decision on Contesting Extradition

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Sam Bankman-Fried (SBF), the former CEO of FTX, has reportedly reversed his decision to contest extradition and is expected to appear in court in the Bahamas on December 19 to seek a reversal. This means that SBF has consented to be extradited to the US.

Before the U.S. courts, SBF currently faces charges of conspiracy to commit wire fraud on customers and lenders, securities fraud, commodities fraud, money laundering and conspiracy to defraud the United States and violate campaign finance law. If convicted on all counts, he could potentially face 115 years in jail.

According to defence lawyer Zachary Margulis-Ohnuma, SBF will likely be held at the Metropolitan Detention Center in Brooklyn upon his arrival in the United States. He could also be held at jails just outside New York City due to overcrowding at the facility.


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