According to a source familiar with the matter, Sam Bankman-Fried has agreed to be extradited from the Bahamas to the U.S. to face fraud charges.
Sam Bankman-Fried was handcuffed by officers of the Royal Bahamas Police. Kris InGRAHAM is a photographer for Agence France-Presse.
According to the New York Times, Jerone Roberts said his client would be sent to the U.S. against the strongest possible legal advice.
Bankman-Fried was expected to agree to be extradited in a court appearance Monday, but when Roberts said he was "shocked" that Bankman-Fried was in court, the proceedings descended into chaos.
Bankman-Fried initially told the court that he was prepared to be extradited to the U.S., but then asked for a copy of his indictment before proceeding.
10 minutes after proceedings began, the judge ordered Bankman- Fried back to jail.
Bankman-Fried is expected to be extradited later this week.
The notorious Fox Hill Prison in Nassau has had a number of problems in the past, including inadequate sanitary conditions. At the request of the U.S. authorities, he was taken into custody at his apartment in the Bahamas. He was not allowed to leave the country after a judge determined he was a flight risk. After losing billions of dollars in customer money in a failed attempt to prop up Alameda Research, FTX filed for bankruptcy. Bankman- Fried has denied wrongdoing.
According to Forbes, Bankman-Fried's net worth peaked at $26.5 billion. A bank account with $100,000 left in it is the only asset he knows of.
Sam Bankman- Fried was denied bail and jailed.
Sam Bankman- Fried was ordered back to a jail in a surprise twist.
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