Thursday, November 30, 2023

US ‘Probably’ to Request SBF’s Extradition, Bahamas Lawyer Common

  • The US is “possible” to request Sam Bankman-Fried be extradited to the US, the Bahamas legal professional basic stated.
  • The legal professional basic indicated the Bahamas meant to extradite Bankman-Fried if requested. 
  • The disgraced crypto founder was arrested within the Bahamas on Monday, in accordance with US authorities. 

US authorities are “possible” to request the extradition of Sam Bankman-Fried, the Bahamas legal professional basic, Sen. Ryan Pinder KC, stated in a statement shared on-line on Monday, shortly after the FTX cofounder’s arrest.

The disgraced crypto founder was arrested within the Bahamas on Monday primarily based on a “sealed indictment” from US authorities, the US Lawyer’s Workplace Southern District of New York said on social media. Bankman-Fried can be dealing with separate prices from the US Securities and Exchange Commission.

The Bahamas legal professional basic stated within the assertion that the US had filed prison prices towards Bankman-Fried and was “prone to request his extradition.”

Pinder indicated the Bahamas meant to extradite the FTX cofounder if requested, per the assertion.

“At such time as a proper request for extradition is made. The Bahamas intends to course of it promptly, pursuant to Bahamian regulation and its treaty obligations with the USA,” Pinder stated.

The US authorities has an extradition treaty with the Bahamas that enables for the extradition of defendants for prices that will be thought of against the law in each international locations and will lead to a jail sentence of longer than a 12 months.

Bankman-Fried’s arrest comes after the crypto alternate platform, FTX, and its associates collapsed in mid-November.

Bankman-Fried is dealing with allegations that he misused FTX buyer funds to prop up Alameda Analysis, one other firm he owned, leading to billions of {dollars} in losses.

Representatives for the Bahamas legal professional basic workplace didn’t instantly reply to Insider’s request for remark made exterior regular working hours.

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