Sam Bankman-Fried, the former chief executive officer (CEO) of cryptocurrency exchange FTX, has signed the paperwork needed to extradite him to the U.S. to stand trial on multiple charges of fraud and securities violations.
Bankman-Fried had been expected to drop his fight against extradition from the Bahamas where he had been living when FTX filed for bankruptcy on November 11 of this year.
Legal experts say Bankman-Fried could now be moved to a U.S. prison by week’s end.
By signing the paperwork needed to extradite him, Bankman-Fried will face multiple criminal charges in the U.S. related to the collapse of FTX, which owes more than one million creditors a combined $8 billion U.S.
If convicted on the charges against him, Bankman-Fried could spend the rest of his life in jail. He has repeatedly denied knowingly committing any wrongdoing that led to the collapse of FTX.
