SBF returns to US to face multiple criminal charges • TechCrunch

Nine days later, he was detained in the bahamas for a bunch of marijuana. criminal chargesSam Bankman-Fried, former CEO of FTX, heads to the US to confront them.

After being denied bail, Bankman-Fried was held at Fox Hill Prison in the Bahamas Department of Correctional Services Fox Hill Prison. He was to remain there until his next hearing, which was scheduled for February 8, 2023. He can now fly to New York on Wednesday afternoon. Multiple reports claim that he will appear in Federal District Court, Manhattan.

These accusations stem from the collapse last month of cryptocurrency exchange Bankman-Fried. It was once one the largest in the world. However, a liquidity crunch caused the company to withhold withdrawals. The allegations include wire fraud and securities fraud as well as money laundering.

According to Duane Clare, the Bahamas’ acting commissioner for corrections, Bankman Fried signed documents Tuesday to surrender himself to the United States. He is expected sign a separate set to complete his waiver of rights in order to fight extradition.

Send it to me Bloomberg NewsBankman-Fried, along with FBI agents, will be flying back to the United States by private jet. He will be released from jail on Wednesday morning according to plans.

His arrival in America could cause both plaintiffs to seek out more information about the FTX meltdown, and reveal the true story of the once $32 Billion company.

Last week, Damian Williams, U.S. attorney for the Southern District of New York, was asked if the entities would be able to file charges against any other individuals allegedly responsible for the FTX collapse. he said during the event“I can only tell you that we are clearly not done.” Since then, no new fees were announced.

The US House of Representatives Financial Services Committee hosted a hearing on December 13th about the collapse of FTX. One witness was John J. Ray III, FTX’s new CEO. Ray answered a variety of questions from officials and shared some new information. You can read about Ray’s four-hour hearing. here.

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