Sam Bankman-Fried or SBF, the “Bernie Madoff of cryptos,” has agreed to be extradited to the United States, his lawyer Jerone Roberts confirmed to CNN.
“Sam Bankman-Fried has agreed to be voluntarily extradited to the United States of America,” said his lawyer, who also indicates that SBF could be extradited on the same day of the appearance in the Bahamas court.
While he thought he would oppose his extradition, the deposed CEO of FTX has finally chosen to quickly return to American soil to be tried for multiple charges that could lead him to prison for 115 years!
SBF would have given tens of millions of dollars….
Arrested a week ago by the Bahamas police, Sam Bankman-Fried will soon have to face his country’s justice system, which has many questions to ask him about the fraudulent activities that were taking place within the crypto exchange in receivership.
Accused of wire fraud, securities fraud, conspiracy to commit fraud, money laundering, the former CEO of FTX is also going to be prosecuted for illegal donations to American politicians.
SBF allegedly gave tens of millions of dollars to elected officials with money that may have come from FTX client funds.
In the end, FTX would have around ten to 13 billion in debts to more than a million creditors who risk at best to recover 40% of their funds.
Considered one of the biggest frauds in American history, the trial of SBF, now called “thief”, is therefore highly anticipated by the press and the general public.
It is also expected that others who worked with SBF, including Caroline Ellison, former CEO of Alameda Research and former girlfriend of Sam Bankman-Fried, will also be charged with fraud.