Sam Bankman-Fried to be Extradited to the US Soon, Next Monday at the Earliest!

FTX founders will soon be extradited from the Bahamas to the US. (Photo; Doc. BFMTV)

JAKARTA – The founder of the bankrupt FTX crypto exchange company, Sam Bankman-Fried (SBF) is reportedly set to be extradited to the United States. As is known, on December 12, SBF was officially arrested by the Bahamas police.

SBF is officially detained in Nassau. According to the plan, the extradition of SBF will be carried out next Monday at the earliest. But before that, SBF will appear in a Bahamas court to clarify whether he will agree to extradition to the US on charges of financial fraud.

The founder and former CEO of crypto exchange FTX has been in custody in the Bahamas since last Monday, when he was arrested at the request of US prosecutors in Manhattan. Officials have accused SBF of various crimes, including fraud, and therefore requested his extradition to the United States.

The 30-year-old crypto billionaire has been languishing in Fox Hill Prison, Nassau, Bahamas after his arrest. However, the prison has been widely criticized in international assessments for having an inadequate sanitation system and overcrowding.

In addition, SBF is also facing civil lawsuits from the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The two US regulators charged SBF with defrauding investors and transferring FTX consumer funds to its private trading firm, Alameda Research.

Initially, the SBF refused extradition to the US. However, in anticipation of a change of mind, the SBF is expected to give a decision next Monday if his request to be released on bail is refused.

On the other hand, SBF acknowledged that FTX's bankruptcy was caused by the failure of its team's risk management. However, SBF insisted on denying the allegations of its involvement in the bankruptcy process.