FTX co-founder Sam Bankman-Fried (SBF) had a difficult day in court on Monday, with reports indicating that his local attorney, Jerone Roberts, “appeared at odds with [SBF’s] US legal team.” Following a series of confusing events, SBF was transferred back to Fox Hill prison.
According to the Tribune and other reports, SBF told the judge that he had not yet seen his US indictment. Roberts was allegedly unaware that his client, SBF, was also scheduled to appear in court on Monday. “I did not request that he come here this morning,” Roberts told the court.
According to various media outlets, including the Wall Street Journal, New York Times, Reuters, and the Tribune, SBF’s legal team has been working on plans for his extradition to the United States. According to reports, Bankman-Fried only spoke twice with the judge, magistrate Shaka Serville, during the entire hearing.
The Bahamas’ Deputy Director of Legal Affairs, Franklyn Williams, described the proceedings as “incredible,” and several reports stated that SBF needed to review his indictment before deciding whether or not to extradite him.
SBF’s legal team in the US expects that everything will be resolved by Tuesday. After SBF left the courtroom, his Bahamian lawyer, Roberts, said that “counsel will prepare the necessary documents to trigger the court” regarding extradition.
Magistrate Serville is said to have told the press that SBF’s court appearance on Monday was essentially a “wasted day” before remanding him back to Fox Hill prison.
SBF Agrees to Be Extradited
According to Reuters, SBF has decided to accept extradition to the US to stand trial for fraud charges. This decision was made just hours after his lawyer told a Bahamas judge that he was not yet ready to consent.
This change of course clears the way for the 30-year-old cryptocurrency mogul to face charges in New York, on allegations of the thefts of billions of dollars from FTX customers to cover losses at his hedge fund, Alameda Research, before the exchange abruptly collapsed in November.
It is unknown when Bankman-Fried will leave the Bahamas, where he was arrested on December 12 in response to a US extradition request. After Monday’s hearing, no further court date has been set.
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