FTX founder Sam Bankman-Fried boarded a plane from the Bahamas on Wednesday for the United States where he is expected to appear before a US federal court in Manhattan.
FTX founder Sam Bankman-Fried left the Bahamas on Wednesday on a plane bound for the United States, according to a person familiar with the matter and a Reuters witness who saw the plane take off.
Bankman-Fried agreed Wednesday at a Bahamas courthouse to be extradited to the United States, where he faces fraud charges.
Federal prosecutors in Manhattan last week charged the 30-year-old cryptocurrency mogul with stealing billions of dollars in FTX client assets to offset losses at his hedge fund, Alameda Research, which US Attorney Damian Williams described as "the biggest financial scam ever." One of the frauds". American History."
According to Reuters video, Bankman-Fried left the courthouse in the afternoon surrounded by guards carrying assault weapons and entered a vehicle.
A convoy arrived at the Odyssey Aviation airport in the Bahamas in the evening, according to Reuters video and a Reuters witness.
A source with knowledge of the matter said Bankman-Fried boarded a plane from a private terminal. A Reuters witness said the plane, identified as Bankman-Fried's, had taken off.
Bankman-Fried is expected to appear before US federal court in Manhattan on Thursday. At his court appearance, which is known as an indictment, he is asked to enter a plea. US judges will determine whether he should be granted bail, and if so, under what conditions.
He is expected to face charges on eight counts including wire fraud, money laundering and campaign finance violations.
Bankman-Fried was arrested last week on a US extradition request in the Bahamas, where he lives and where FTX is based. He initially said he would oppose extradition, but Reuters and other outlets reported over the weekend that he would reverse that decision.
According to an affidavit read in court on Wednesday and December 20, Bankman-Fried agreed to the extradition "out of a desire to make the clients concerned whole".
Dressed in a suit, Bankman-Fried walked up to the witness box in the courtroom, where she spoke clearly and steadily while being sworn in.
"Yes, I wish to waive my right to such formal extradition proceedings," he told Judge Shaka Servill.
Bankman-Fried's defense attorney, Jaron Roberts, said his client was "anxious to leave."
The judge said he was satisfied that all legal requirements for extradition had been met and that Bankman-Fried had not been "coerced, coerced or threatened" to make the decision.
"Therefore I commit you to formal detention while you await your extradition," Servil said.
The hearing was adjourned after the statements.
The Ministry of Foreign Affairs in the Bahamas later said in a statement that the foreign minister had signed off on allowing Bankman-Fried's extradition to the United States.
During Wednesday's hearing, Bankman-Fried's attorney, Roberts, requested that the "rule of attribution" be followed. This rule, which is in the Bahamas' extradition treaty with the United States, states that a person can only be tried on the charges for which he or she is extradited.
Mark Cohen, the US-based defense attorney for Bankman-Fried, did not immediately respond to a request for comment on Wednesday.
Bankman-Fried has acknowledged risk-management failings at FTX, but has said she does not believe she has criminal liability.
Bankman-Fried rode a crypto boom to become a multiple-time billionaire and an influential US political donor, before the FTX crash wiped out his wealth and tarnished his reputation. The collapse was triggered by a wave of customer withdrawals amid concerns that funds had been mixed with Alameda.
The $32 billion exchange declared bankruptcy on November 11, and Bankman-Fried stepped down as CEO the same day.
He has since been held in custody at the Bahamas Department of Corrections in Nassau, known as Fox Hill Prison. The US State Department described the facility's conditions as "harsh" in a 2021 report, citing overcrowding, rat infestations, and inmates relying on buckets as toilets.
Local officials say the situation has already improved.
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