FTX founder Bankman-Fried despatched again to Bahamas jail in day of courtroom chaos

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FTX founder Sam Bankman-Fried was despatched again to a Bahamas jail Monday in a chaotic courtroom scene, after a reported plan for him to waive his extradition to the U.S. stalled. Nonetheless, a number of media reviews later within the day stated that he had advised his Bahamian lawyer to proceed with extradition hearings, and he is now anticipated again in court docket later this week.

Experiences over the weekend indicated that Bankman-Fried would consent to extradition, however the former crypto billionaire advised a distinct story Monday, demanding to see a replica of his federal indictment earlier than agreeing to return to the U.S. He’ll return to Fox Hill jail somewhat than surrendering himself to U.S. custody.

Bankman-Fried’s authorized group signaled that they might struggle extradition final week. CNBC and a number of other different retailers reported that Bankman-Fried had modified his thoughts and would as an alternative submit himself for extradition on Monday.

FTX founder Sam Bankman-Fried (C) is led away handcuffed by officers of the Royal Bahamas Police Power on the Nassau, Bahamas, courthouse on December 19, 2022. 

Kris Ingraham | Afp | Getty Pictures

In open court docket, chaos reigned. Bankman-Fried, 30, wearing a blue swimsuit and white button-down shirt, was visibly shaking. His Bahamian protection legal professional., Jerone Roberts, advised the court docket that he was “shocked” that Bankman-Fried was in court docket.

“I didn’t request him to be right here this morning,” the legal professional stated. Franklyn Williams KC, the Bahamian prosecutor, stated that he “understood that [Bankman-Fried] supposed to waive extradition,” in response to an NBC Information producer current within the courtroom.

The FTX founder arrived at Bahamian court docket in a convoy of police autos, closely guarded, simply after 10 a.m. ET.

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After the listening to closed, the New York Instances and Washington Submit each reported that Bankman-Fried agreed to extradition, citing Roberts. “We as counsel will put together the required paperwork to set off the court docket,” Mr. Roberts advised the Instances. CNBC has not but been capable of verify these reviews independently.

The transfer comes simply days after he was remanded to the medical unit of Bahamas’ infamous Fox Hill Jail.

The State Division in a 2020 report referred to as the situations at Fox Hill Jail “harsh,” citing “overcrowding, poor diet, insufficient sanitation, poor air flow, and insufficient medical care.”

Sam Bankman-Fried, founding father of FTX, is escorted within the Justice of the Peace’s Courtroom in Nassau, Bahamas, on Monday, Dec. 19, 2022. 

Victor J. Blue | Bloomberg | Getty Pictures

Medical care particularly is spotty on the Bahamian jail, the report stated. The previous billionaire was transported from certainly one of his a number of multimillion-dollar penthouse houses to the jail final week — although Bankman-Fried was entitled to his personal room within the medical wing, Bloomberg reported.

Bankman-Fried faces life in federal jail, with out the potential for supervised launch, if convicted on simply certainly one of eight offenses that prosecutors have charged him with.

His sentence could possibly be diminished by mitigating elements. Trial legal professionals and former prosecutors say that, in apply, many white-collar defendants are given lesser sentences than what the rules dictate. So, even in massive fraud instances, you possibly can see life sentences drastically diminished.

WATCH: Why Sam Bankman-Fried might resolve to drop his struggle towards being extradited to the U.S.

Why Sam Bankman-Fried may decide to drop his fight against being extradited to the U.S.

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