Tuesday, May 30, 2023
  • About
  • Privacy Policy
  • Editorial Principles
  • Why to trust us
  • Contact
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
No Result
View All Result
Scoop Nova
Home Technology

Sam Bankman-Fried will now surrender himself for extradition before Bahamian court Monday: Source

admin by admin
December 18, 2022
in Technology
0
Sam Bankman-Fried will now surrender himself for extradition before Bahamian court Monday: Source
589
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

You might also like

Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.

Tech stocks are back, driven by A.I. craze, slowing rate hikes

Investment in fossil fuels set to exceed $1 trillion in 2023, IEA says

On December 13, 2022, in Nassau, Bahamas, FTX founder Sam Bankman-Fried (2nd L) was handcuffed and taken away by Royal Bahamian Police officers.

Mario Duncanson | AFP | Getty Images

FTX founder and former CEO Sam Bankman-Fried says he will no longer contest his extradition to the United States, days after being remanded to a Bahamas jail pending a hearing. A person familiar with the matter told CNBC.

The former crypto billionaire will appear in court in the Bahamas this Monday, formally waiving his extradition rights, paving the way for federal officials to secure his return to the U.S.

Extraditions between the Bahamas and the United States are codified by the 1991 treaty. In practice, the process can take months, if not years, to complete due to the numerous opportunities for defendants to appeal. Bankman-Fried’s legal team originally planned to oppose the extradition. A change of heart would significantly advance the timeline for Bankman-Fried’s federal trial.

The 30-year-old MIT graduate was originally scheduled for his next hearing in February 2023.

A representative for Bankman-Fried declined to comment.

Bankman-Fried was indicted in New York federal court on Monday on charges of wire fraud, securities fraud, conspiracy to defraud the United States, and money laundering. If his sentence is handed down, he could spend the rest of his life in prison. The former FTX CEO was simultaneously indicted by the Securities and Exchange Commission and the Commodity Futures Trading Commission over similar allegations that he worked to defraud billions of dollars from FTX customers since the exchange was founded in 2019. I’m here.

At the center of Bankman-Fried’s empire was Alameda Research, a cryptocurrency hedge fund that federal regulators claimed used FTX customer funds to engage in trades that lost billions of dollars.

The collapse of FTX Reported by CoinDesk Alameda Research, a Bankman-Fried hedge fund, has revealed a heavy concentration on its self-issued FTT coin, which it uses as collateral for billions of dollars in crypto loans. Rival exchange Binance has announced it will sell its stake in FTT, sparking massive withdrawals. The company froze its assets and declared bankruptcy a few days later. Claims from the SEC and CFTC show that FTX mixed customer funds with his Bankman-Fried cryptocurrency hedge fund, Alameda Research, and lost billions of dollars in customer deposits in the process. I was.

Tags: BahamianBankmanFriedBreaking newsBreaking News: TechnologyBusiness newsCollusionCourtCryptocurrencyCryptocurrency exchangeextraditionFinTechInvestment strategymondaySamsourcesurrendertechnology
Previous Post

How this millennial CEO steered Serum Institute of India during Covid

Next Post

American Airlines is dropping Mesa, citing financial problems

admin

admin

Related Posts

Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.
Technology

Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.

by admin
May 29, 2023
Tech stocks are back, driven by A.I. craze, slowing rate hikes
Technology

Tech stocks are back, driven by A.I. craze, slowing rate hikes

by admin
May 27, 2023
Investment in fossil fuels set to exceed $1 trillion in 2023, IEA says
Technology

Investment in fossil fuels set to exceed $1 trillion in 2023, IEA says

by admin
May 25, 2023
TikTok sues Montana over app ban
Technology

TikTok sues Montana over app ban

by admin
May 23, 2023
Twitter accuses Microsoft of using data in unauthorized ways
Technology

Twitter accuses Microsoft of using data in unauthorized ways

by admin
May 19, 2023
Next Post
American Airlines is dropping Mesa, citing financial problems

American Airlines is dropping Mesa, citing financial problems

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

China’s growing influence threatens to undermine global human rights

China’s growing influence threatens to undermine global human rights

March 30, 2023
Dollar General violates workplace safety standards again

Dollar General violates workplace safety standards again

April 9, 2023

Categories

  • Business
  • Politics
  • Technology

Don't miss it

Commercial real estate firms join to recruit Black student-athletes
Business

Commercial real estate firms join to recruit Black student-athletes

May 29, 2023
Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.
Technology

Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.

May 29, 2023
What’s in the debt ceiling deal struck by Biden and McCarthy?
Politics

What’s in the debt ceiling deal struck by Biden and McCarthy?

May 29, 2023
Ford Tesla EV charging deal puts pressure on GM
Business

Ford Tesla EV charging deal puts pressure on GM

May 27, 2023
Tech stocks are back, driven by A.I. craze, slowing rate hikes
Technology

Tech stocks are back, driven by A.I. craze, slowing rate hikes

May 27, 2023
JPMorgan CEO Jamie Dimon deposed in Jeffrey Epstein suit
Politics

JPMorgan CEO Jamie Dimon deposed in Jeffrey Epstein suit

May 27, 2023
Scoop Nova

Scoop Nova is the only worldwide news organization with a European perspective, and it’s where the rest of the world goes to hear what the World has to say.

Categories

  • Business
  • Technology
  • Scandals
  • Politics

Quick Links

  • About Scoop Nova
  • Contact us
  • Editorial Principles
  • Why to trust us
  • Privacy Policy
  • Sitemap

Recent News

Commercial real estate firms join to recruit Black student-athletes

Commercial real estate firms join to recruit Black student-athletes

May 29, 2023
Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.

Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I.

May 29, 2023

© Copyright 2022 ! All rights are reserved by scoopnova.com

  • Home
  • Business
  • Technology
  • Scandals
  • Politics

© Copyright 2022 ! All rights are reserved by scoopnova.com