Disgraced FTX founder Sam Bankman-Fried has reportedly agreed to get extradited to the United States to face charges levied against him for wire fraud stemming from his bankrupt cryptocurrency firm.
Bankman-Fried, also known as SBF, was poised to drop his initial resistance against extradition from his Bahamas prison during a frenzied hearing Monday. However, an exact timeline for his possible transfer to the U.S. remains unclear, the Washington Post reported.
“Whatever trail that got him here this morning, it did not involve me,” Bankman-Fried's lawyer Jerone Roberts told a judge during the hearing, per the Wall Street Journal.
Another lawyer for Bankman-Fried, who works for the Bahamas Department of Public Prosecutions, then reportedly explained that the billionaire mogul had contacted his office to waive extradition. After about 10 minutes, the hearing ended, and Bankman-Fried was directed back to jail, according to the report.
Bankman-Fried was arrested last week and is facing charges of conspiracy to commit wire fraud on customers and lenders, conspiracy to commit money laundering, conspiracy to commit commodities and security fraud, a separate wire fraud on customers and lenders, violating campaign finance laws, and conspiracy to defraud the U.S. He is also facing civil securities fraud charges from the Securities and Exchange Commission.
If convicted, he could face up to 115 years behind bars.