FTX founder Sam Bankman-Fried will fly from Bahamas to U.S. Wednesday to face prison fees

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FTX founder Sam Bankman-Fried signed extradition papers within the Bahamas and can return to the U.S. on Wednesday, a Bahamas jail official advised NBC Information.

Doan Cleare, Bahamas’ performing commissioner of corrections, confirmed on Tuesday that Bankman-Fried will fly to the U.S. on federal plane following his third courtroom listening to this week.

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A supply acquainted with the matter advised CNBC that Bankman-Fried’s workforce will not be anticipating additional points with the method.

Bankman-Fried, his U.S. counsel and his native Bahamian legal professional have appeared at odds during the last two days, which resulted in confusion and chaos within the Nassau courtroom.

Bankman-Fried faces eight federal fees, together with wire fraud, securities fraud and cash laundering, associated to the collapse of his crypto alternate, which sank out of business final month.

The 30-year-old MIT graduate now faces a protracted trial course of and will presumably be free on bail whereas proceedings unfold.

The U.S. Lawyer’s Workplace for the Southern District of New York argued that Bankman-Fried used $8 billion price of buyer property for extravagant actual property purchases and self-importance tasks, together with stadium naming rights and hundreds of thousands in political donations.

Bankman-Fried stands accused by federal regulation enforcement and monetary regulators of perpetrating what the SEC known as one of many largest and most “brazen” frauds in latest reminiscence. Alternative CEO John J. Ray described a “full failure of company management” on the firm.

Bankman-Fried was indicted in New York federal courtroom on Dec. 9 and was arrested three days later by Bahamas regulation enforcement on the request of U.S. prosecutors. His authorized workforce has since gone backwards and forwards on whether or not Bankman-Fried would consent to extradition.

WATCH: Sam Bankman-Fried defied the recommendation of attorneys

Sam Bankman-Fried defies advice of his lawyers by agreeing to U.S. extradition

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