Co-founder of FTX will return money to customers
2022.12.20 02:16
Co-founder of FTX will return money to customers
Budrigannews.com – According to reports, Sam Bankman-Fried, the former CEO of FTX, has agreed to be extradited to the United States to face charges. He is currently being held in custody by authorities in the Bahamas.
Reuters reported on December 19 that Bankman-Fried’s legal team planned to prepare documents for him to reappear in front of the Bahamas Magistrate Court this week. The previous FTX President went to a crisis becoming aware of the court only hours sooner with practically no appearing settlement or administering — he got back to jail following the occasion.
According to SBF’s legal team member Jerome Roberts, “Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision.”
Before he agreed to be extradited to the United States, Bankman-Fried reportedly wanted to see the indictment against him. The Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Justice Department all accuse him of violating campaign finance laws and defrauding investors and lenders. If found guilty, he could face a 115-year prison term.
More FTX Co-Founder Fears extradition to the U.S.
Bankman-Fried has been in the custody of Bahamian authorities since December 12, when he was arrested as part of extradition proceedings with the United States. Prior to that, he had been giving interviews to major media outlets and was expected to testify at least once before a congressional hearing.
