Sam Bankman-Fried, the founder of crypto exchange FTX, has reportedly agreed to be extradited from The Bahamas to the US, to face criminal charges relating to alleged fraud at the business - which collapsed into bankruptcy in November 2022.
However, there may be a further series of formalities to conclude later in the week before any extradition is finally granted.
US financial outlet Forbes described a court hearing yesterday (Monday 19 December) as "chaotic", noting "Bankman-Fried is expected to make another court appearance to formalize the extradition later in the week."
The FT reported that his own lawyer claimed to be unaware of the decision, in turn itself citing Reuters news that Bankman-Fried left the court hearing without having agreed to be sent to the US, but added that local media reported that legal representatives subsequently did confirm he "would" agree to be sent back voluntarily.
On Tuesday 20 December, the BBC reported it "understands" Bankman-Fried has agreed to the extradition, noting "a source close to Mr Bankman-Fried, who denies the allegations, told the BBC he had agreed to be extradited."
The Securities Commission of The Bahamas published a statement on 12 December issued by attorney general of The Bahamas Sen. Ryan Pinder KC on the arrest of Sam Bankman-Fried.
That statement said that Bankman-Fried's arrest "followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition."
"As a result of the notification received and the material provided therewith, it was deemed appropriate for the attorney general to seek SBF's arrest and hold him in custody pursuant to our nation's Extradition Act."
