FTX founder Sam Bankman-Fried (SBF) was sent back to the Bahamas prison on December 19 after a chaotic day in the courtroom, according to CNBC.
The media over the weekend simultaneously reported that the SBF had agreed to be extradited to the US, but the founder of crypto exchange FTX told a different story on December 19, asking to see a copy of the copy. his federal indictment before agreeing to return to the United States. Finally, for the time being, SBF will return to Fox Hill prison in the Bahamas, not “submit itself” to US detention.
The scene that reigned throughout the open trial on the morning of December 19 was chaos. The 30-year-old former crypto billionaire arrived at the Bahamas courthouse in a heavily guarded police convoy after 10 a.m. local time. This time he wore a blue suit and white shirt, appearing rather timid. defense attorney SBF Bahamian Jerone Roberts told the court he was “shocked” to see SBF in court. “I didn’t ask him to be here this morning,” Roberts said.
After the hearing ended, both the New York Times and the Washington Post reported that the SBF agreed to the extradition to the US according to Roberts’ attorney. “We, as advisors, will prepare the necessary documents to launch the trial,” Mr. Roberts said.
CNBC has not been able to independently confirm these reports. However, other media reported on the same day that the SBF had told his lawyer to conduct the extradition hearings, and that he was expected to return to court later this week
The changes regarding extradition to the US come just days after the SBF was moved from a multi-million dollar penthouse to the Bahamas’ notorious Fox Hill prison earlier last week. The State Department’s 2020 report described conditions at Fox Hill as “harsh”, citing “overcrowding, poor nutrition, poor sanitation, poor ventilation and inadequate medical care. full”. According to Bloomberg, the former FTX CEO is entitled to a private room in the medical ward of Fox Hill.
SBF could potentially face life in federal prison in the US, without the possibility of supervised release, if convicted on just one of the eight counts US prosecutors have charged. older brother.
However, the sentence of SBF can be reduced by a number of mitigating factors. According to lawyers and former prosecutors, many white-collar defendants (a term for knowledge workers, or experts in a particular field) are often given lighter sentences than those who are convicted, according to lawyers and former prosecutors. what the guideline stipulates. So, even in the case of a major scam, a substantial reduction in the life sentence could be seen.