The founder of a failed crypto exchange accused of fraud has been extradited to the United States
The entrepreneur arrived in the United States on Wednesday evening. His court hearing will take place in New York, where his lawyers are expected to ask for his release from custody. A week ago, in the first session of the Court held in the Bahamas, the lawyers of Sam Bankman-Fried stated that they would do everything possible to prevent the extradition.
The 30-year-old businessman was arrested last Monday by the Bahamian police at the request of the American authorities. The New York prosecutor’s office charges him with a total of eight crimes, from wire fraud to money laundering to fraud committed in a criminal organization. The 13-page indictment alleges that Bankman-Fried knowingly misled clients and investors to benefit herself and others while playing a central role in the collapse of the multibillion-dollar company. According to the indictment, the founder created a business model that allowed him to siphon investors’ money and funnel it into his own hedge fund, Alameda Research, which then used the money for questionable real estate purchases and donations great politicians.
Cryptocurrency exchange FTX, founded in 2019, filed for bankruptcy protection on November 11 after being unable to meet its payment obligations due to running out of money.
Last year, the 30-year-old company founder was considered one of the richest people in the world and the youngest billionaire, Forbes estimated his fortune at more than 26 billion dollars.
Cover photo: Joe Raedle/Getty Images
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