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Sam Bankman-Fried, founder of the failed cryptocurrency exchange FTX, is being extradited to the U.S. to face federal fraud charges related to the misappropriation of billions of dollars of customer funds, Bahamian officials said Wednesday.
The 30-year-old one-time mogul had been held in the Bahamas following his arrest earlier this month, but abruptly dropped a challenge to be transferred to the custody of U.S. authorities where he is to face prosecution in New York.
The Bahamian Office of Attorney General Ryan Pinder said Bankman-Fried would depart for the U.S. Wednesday night.
Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz
Bankman-Fried was in FBI custody Wednesday night and is scheduled to appear in Manhattan federal court for arraignment « as soon as possible, » Damian Williams, the U.S. Attorney for the Southern District of New York, said in a Twitter post.
Two former business associates of Bankman-Fried, Caroline Ellison and Gary Wang, have pleaded guilty to federal charges and agreed to cooperate with prosecutors investigating the alleged fraud scheme, Williams said.
