SBF’s Parents Attend Bahamas Hearing, Laughed Report
- Sam Bankman-Fried’s parents attended the hearing in the Bahamas for their son after his arrest.
- Bankman-Fried will be extradited to the USA, where prosecutors have revealed criminal charges.
- His mother “laughed several times” when he was called a “fugitive,” CoinDesk reported.
According to CoinDesk, the hearing was mainly about whether Bankman-Fried would be freed on bail. However, the former CEO of FTX indicated that he did not waive his right to challenge Bankman-Fried’s extradition to the US. The site, which was reporting live from Nassau, in the Bahamas, broke the newsThe financial links between FTX (Bankman-Fried’s trading house Alameda Research) and Bankman Fried’s trading firm Alameda Research were revealed in November.
Bankman-Fried’s mother Barbara Fried laughed at the call her son a “fugitive” during the proceedings, according to CoinDesk’s reports. This was because his parents were characterized as “dejection and defiance.” According to the Times, she also “clenched and chewed on the frames” of her glasses.
CoinDesk: Joseph Bankman, Joseph’s father, “occasionally puthis fingers in his ears, as if drowning out the sound of proceedings,” per CoinDesk.
After the hearing, Bankman-Fried was released. denied bailAccording to the Times: His parents gave him an extra hug.
According to John J Ray III (current CEO of FTX), Bankman-Fried received payments from FTX. He testified before Congress on Tuesday.
The hearing took place after the former CEO of FTX was detained on Monday by federal prosecutors in New York. If he is extradited, he will be formally notified of the criminal proceedings charges brought against him.
On Tuesday, a grand jury indictment against Bankman Fried, listing charges for fraud and conspiracy, was unsealed.
Later in the day, the prosecution elaborated on some of these charges at a press conference. They referred to “tens of million dollars in illegal campaign donations” to candidates in both major US political parties.
Damian Williams, US Attorney in the Southern District of New York, stated that the contributions were disguised to appear from wealthy co-conspirators, but they were actually funded by Alameda Research using stolen customer money.
He stated that Bankman-Fried wanted to buy bipartisan influence and change the direction of Washington public policy.
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