Status: 12/20/2022 7:52 a.m
Bankman Fried is said to have embezzled billions of dollars. The founder of crypto exchange FTX has been arrested in the Bahamas. He has now agreed to be extradited to the United States, where he is to be tried.
The founder and former CEO of now-bankrupt crypto exchange FTX, Sam Bankman-Fried, has agreed to extradition from the Bahamas to the United States, according to two of his lawyers. There he is accused of fraud.
The Reuters news agency reports that it learned of the decision from lawyer Krystal Rolle on Monday. Her colleague Jerone Roberts commented accordingly to the newspaper “New York Times”. Both attorneys practice in the Bahamas. Statements from Bankman Fried’s representatives in the USA and from the US public prosecutor’s office have not yet been received.
allegation of embezzlement
FTX filed for bankruptcy protection on Nov. 11 after clients withdrew funds en masse in response to the covert move of $10 billion in deposits. Bankman-Fried resigned as boss the same day. Now he is accused of misleading investors with false promises and embezzling a total of more than $1.8 billion.
He had apologized to customers, but rejected allegations of fraud. The collapse of FTX had rocked the crypto world.