Bankman-Fried Suddenly Changes His Tune• December 19, 2022 7:58 pm • Comments
Sam Bankman-Fried has agreed to come back to the United States to face trial…
He hasn’t just agreed to come back, he is reportedly clamoring for it; sources are claiming that the former C.E.O. of the collapsed FTX exchange would do ‘anything’ to get out of imprisonment in the Bahamas.
The conditions of his imprisonment are appalling, according to some sources, and this is what is driving him to reverse his plan to contest extradition back to the states.
As of right now, he is still in the custody of the authorities in the Bahamas.
His attorney claims that they were completely in the dark about the extradition agreement and his sudden change of tune regarding his return to the U.S…
The attorney also claimed that he has no idea what could compel SBF to make such a choice, and has strongly counseled against his decision…
Despite this, Bankman-Fried’s legal representation is reportedly prepping papers for him to accept extradition and return to face trial in New York.
According to them, he could be back in Manhattan as early as tomorrow Tuesday, December 20th.
That remains to be seen…Here’s what everyone is saying:
Sam Bankman-Fried seeks extradition to the US after spending 4 days in Bahamas jail …
I sort of see his POV. Sitting in the Bahamas is ultimately just a delaying tactic. It doesn't get him anywhere except spending money while in a horrible place.
— Wall Street Silver (@WallStreetSilv) December 17, 2022
Sam Bankman-Fried was sent back to the Bahamas prison where he has been for the past week, after a court hearing where he was expected to agree to be sent to the U.S. descended into confusion. https://t.co/tkNg3U3cTN
— The New York Times (@nytimes) December 19, 2022
The New York Post speculates that it is Bankman-Fried’s prison accommodations that are to blame for his sudden change of attitude:
The embattled FTX chairman has been held at the island nation’s notorious Fox Hill Prison, which is reportedly overrun with rats and maggots and has been slammed by human rights officials as offering inadequate medical and sanitary conditions to inmates.
Last Tuesday he asked to be let out of the jail citing his vegan diet and apparent ADD diagnosis. His attorney proposed a $250,000 cash bail, which was denied after prosecutors argued he posed a flight risk.
SCOOP: Bankman-Fried expected to be released on bail as part of preconditions made with prosecutors in accepting extradition to US. However, it’s judge on the case who ultimately signs off on it. SBF to appear in Manhattan federal court as soon as tomorrow.
— Marta Dhanis (@MartaDhanis) December 19, 2022
#FTX founder Sam Bankman-Fried's legal case got off to a rocky start as he was sent back to a Bahamas jail after his lawyer said he wasn't aware of an extradition plan. pic.twitter.com/rowlIfV5OW
— Barchart (@Barchart) December 19, 2022
According to Coin Telegraph, there is one caveat to Bankman-Fried’s extradition request:
Bankman-Fried reportedly had wanted to see the indictment against him before he agreed to be extradited to the United States. He faces charges from the Justice Department, the Commodity Futures Trading Commission and the Securities and Exchange Commission related to defrauding investors and lenders as well as violations of campaign finance laws.
He could be looking at a 115-year sentence if convicted.
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