Sam Bankman-Fried, the imprisoned founder of the collapsed cryptocurrency exchange FTX, reportedly signed documents that will soon see him turned over to FBI agents and transported to the U.S. to face charges.
According to Doan Cleare, the acting commissioner of prisons for the Bahamas, Bankman-Fried signed extradition documents on Dec. 20.
The move was anticipated because Bankman-Fried was said to have consented in principle to being extradited to the U.S. on Dec. 19, despite prior reports indicating that he wanted to first see the charges against him.
According to Bloomberg, Cleare signed surrender documents on Dec. 20 and was scheduled to sign another set of papers on Dec. 21 relinquishing his rights to contest extradition, which might see him placed on a flight heading for the U.S. that same day.
The New York Times reported that Bankman-legal Fried's team is currently in talks with federal prosecutors about allowing him to be released on bail if he is extradited to the U.S.
Persons familiar with the matter said the agreement would require permission from the federal judge supervising SBF's case and might contain "highly restrictive conditions" including home confinement and electronic monitoring.
After the last document is signed, Bankman-Fried will likely be taken by FBI agents to a secret airport where he will take a private flight to the US, where he will be prosecuted on eight counts by the US Attorney for the Southern District of New York.
The Department of Justice has accused him of campaign finance violations, commodities and securities fraud, conspiracy to commit wire fraud, conspiracy to engage in money laundering, and wire fraud.
If found guilty of all counts, the maximum punishment for the charges is 115 years in jail.
The Securities and Exchange Commission and Commodity Futures Trading Commission have filed additional charges against the creator of FTX for allegedly breaking commodity regulations and deceiving investors.
Meanwhile, a Dec. 20 Instagram post from local news outlet Bahamas Press saying Bankman-Fried was being "rushed" to hospital from prison went viral but was quickly disproved.
According to New York Times finance reporter Rob Copeland, he spoke with the prison's head, who stated the exchange creator was eating lunch in the medical bay and that the rumor was unfounded.
The Bahamas Press later issued an update, stating that its sources had confirmed that the information was false.
