After a chaotic day in the Bahamas court, Sam Bankman-Fried decides to be extradited to the U.S.

According to a source with knowledge of the situation, besmirched FTX founder Sam Bankman-Fried has consented to be charged with a crime from the Bahamas to the United States to face a number of criminal charges related to fraud allegations. This comes just hour shifts after he suddenly withdrew his support for extradition throughout a contentious court session.

According to the New York Times, Bankman-Fried has willingly accepted to be transported to the United States by the “strongest possible legal advice,” according to his Bahamas-based lawyer Jerone Roberts.

Bankman-Fried had scheduled his consent to be extradited in court on Monday, but things quickly turned chaotic when Roberts expressed disbelief that Bankman-Fried was present and said the session had been scheduled without his consent.

Bankman-Fried originally told the court on Monday he was ready for extradition but later changed his mind and said he needed to view a file of his American accusation first.

Just ten minutes into the session, the presiding judge issued an order to return Bankman-Fried to custody.

Later this week, Bankman-Fried is anticipated to show up in court once more to finalize the extradition.

Key Background

Bankman-Fried has spent the vast majority of the previous week at Nassau's infamous Fox Hill Prison, which has a history of several issues, notably poor sanitation. Federal agents filed eight accusations on him, alleging conspiracy to commit financial fraud and to commit wire, equities, and commodities theft. He was arrested last Monday in his opulent Bahamas home at the demand of American officials. A court in the Bahamas refused him bail because he posed a travel risk. FTX declared bankruptcy last month after losing billions of dollars in customer deposits while trying to save sibling trading company Alameda Research. Bankman-Fried has acknowledged committing a felony act.

Before FTX's demise, according to Forbes, Bankman-net Fried's worth peaked at about $26.5 billion. He asserts that a checking balance with around $100,000 remaining in it is the sole asset of which he is still informed.

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