Sam Bankman-Fried extradited to US to face fraud charges over FTX collapse
- FTX founder Sam Bankman-Fried likely to appear in a Manhattan court on Thursday following his extradition from the Bahamas
- Prosecutors allege the disgraced crypto king, who faces charges of fraud, cheated investors in FTX and misused customers’ funds
FTX co-founder Sam Bankman-Fried arrived in the United States from the Bahamas in FBI custody on Wednesday, facing criminal fraud charges after the spectacular collapse of the crypto exchange.
FTX and its sister trading house Alameda Research went bankrupt last month, dissolving a virtual trading business that had been valued by the market at US$32 billion.
Prosecutors allege Bankman-Fried cheated investors and misused funds that belonged to FTX and Alameda Research customers.
US Attorney Damian Williams announced Wednesday the 30-year-old would be “transported directly to the Southern District of New York” on arrival in the United States.
The plane carrying Bankman-Fried arrived Wednesday night, US media reported. He is likely to appear before a US federal court in Manhattan on Thursday.
At his court appearance, known as an arraignment, he is expected to be asked to enter a plea. The US judge would determine whether to grant him bail, and if so, on what conditions.