Sam Bankman-Fried, the former CEO of the collapsed FTX crypto exchange, will depart the Bahamas on Wednesday evening to be extradited to the U.S., the Office of the Attorney General said in an emailed statement.
Bankman-Fried was arrested on Dec. 12 and subsequently waved his right to challenge the extradition request from the U.S., where authorities have accused him of committing or conspiring to commit fraud on FTX's customers and lenders, money laundering and conspiracy to defraud the U.S. and violate campaign finance disclosure laws.
"The Bahamas has determined that the provisional arrest, and subsequent written consent by SBF to be extradited without formal extradition proceedings satisfies the requirements of the Treaty and our nation’s Extradition Act.," Attorney General Sen. Ryan Pinder KC said in the statement.
The Bahamas foreign minister signed the warrant of surrender for Bankman-Fried today, the ministry said in a separate statement.
Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
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