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Government The Courts United States

Sam Bankman-Fried Agrees To US Extradition (reuters.com) 37

Posted by BeauHD from the about-face dept.
Sam Bankman-Fried has now decided to agree to be extradited to the United States to face fraud charges, two of his lawyers said on Monday, just hours after one of them told a Bahamas judge the FTX founder wanted to see the U.S. indictment against him before consenting. Reuters reports: On Monday afternoon, Jerone Roberts, Bankman-Fried's criminal defense lawyer in The Bahamas, told media outlets including the New York Times that his client had agreed to be voluntarily extradited and that he hoped Bankman-Fried would be back in court later this week. "We as counsel will prepare the necessary documents to trigger the court," the Times quoted Roberts as saying. "Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision."

Earlier in the day, Roberts said during a court hearing in Nassau that his client had seen an affidavit laying out the charges against him over FTX's dramatic collapse, but had not yet read the indictment filed last week in Manhattan federal court. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas' Department of Corrections. He departed the courthouse in a black van marked "Corrections," carrying a manila folder containing papers, a Reuters witness said.
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Sam Bankman-Fried Agrees To US Extradition More

Sam Bankman-Fried Agrees To US Extradition

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  • Bahamas jail is not fun. (Score:3)

    by S_Stout ( 2725099 ) on Monday December 19, 2022 @06:25PM (#63143932)
    "Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision."

    Hmm I think it's sleeping on the jail floor and shitting in a bucket with four other guys that's driving his decision.

    • he may have funds for canteen so he may be to able to buy protection.

      • Re: (Score:3)

        by jwhyche ( 6192 )

        I think we can assume he has some money squirrelled away somewhere. I just wonder where. It used to be the place to go was Switzerland, not so sure now. Cayman Islands or Hong Kong?

        • I don't know this guy strikes me as such an idiot I'm not entirely sure we can count on that. I mean he's probably got some money somewhere but it wouldn't surprise me if it's relatively out in the open.

          None of these people who did these crypto schemes are very bright. If this guy was smart he would have quit while he was ahead before he involved people who had real money. As always screwing over the rich is what got him in trouble

          • I don't know this guy strikes me as such an idiot I'm not entirely sure we can count on that.

            That is entirely what I was thinking.

            I would however, bet there's a 100% chance that his weird girlfriend Caroline Ellison took a bunch of money and hid it.

            • I don't know this guy strikes me as such an idiot I'm not entirely sure we can count on that.

              That is entirely what I was thinking.

              I would however, bet there's a 100% chance that his weird girlfriend Caroline Ellison took a bunch of money and hid it.

              I thought he broke up with the rat faced girl.

            • Coming soon: Harry Potter world in all major states!

        • Re: (Score:2)

          by Luckyo ( 1726890 )

          Wasn't there news that he and his family have a significant investment in properties in Bahamas?

    • Re:Bahamas jail is not fun. (Score:4, Insightful)

      by stabiesoft ( 733417 ) on Monday December 19, 2022 @07:09PM (#63144050) Homepage
      Unfortunately the jail he will likely be transferred to in the US is no picnic either. "Bankman-Fried is expected to again request bail once he is in US custody. If denied bail, he would be held at a federal detention center in Brooklyn, New York. Inmates, lawyers and human rights advocates say the conditions inside that facility, which mostly houses pre-trial defendants who are presumed innocent, are also inhumane, citing overcrowding, frequent loss of heating and poor sanitary conditions overall. " from https://www.cnn.com/2022/12/19... [cnn.com] In this case he is a bit too rich and so will likely be determined a flight risk just like they did in the Bahamas. This leaves him to have a very unpleasant year+ awaiting trial. I cannot imagine the shock he is going thru living in the lap of luxury to a s-hole. I'm not really shedding any tears though. How many people has he put in a situation where they can't afford food or shelter now and are homeless.

      • Re: (Score:3)

        by znrt ( 2424692 )

        How many people has he put in a situation where they can't afford food or shelter now and are homeless.

        they have to blame their own senseless greed. otherwise, informative post.

      • Re: (Score:2)

        by mysidia ( 191772 )

        In this case he is a bit too rich and so will likely be determined a flight risk just like they did in the Bahamas.

        "Too rich" ?

        If found guilty he will be owing more money than he has in reparations; They should go ahead and put in the global order freezing all his assets and bank accounts now, wherever they are.

        Then there is a question.. What is the point of requesting bail, now that he is in the US and doesn't live here, And all funds are frozen, so he won't be able to pay for a hotel room or transp

        • He has already made offers of 250K in the bahamas. https://www.bloomberg.com/news... [bloomberg.com] Problem is no one knows where the money could be. So if they set bail at even 10M, he might just come up with it, and there might just be a jet awaiting to whisk him to a non-extradition country. I am doubting the 2nd part though. The dumbo did not have the good sense to get out when he could have. I think most of this saw this ending with arrest. To me the guy is baffling. His parents were lawyers, and should have passed o

          • Re: (Score:2)

            by mysidia ( 191772 )

            He has already made offers of 250K in the bahamas.. Problem is no one knows where the money could be.

            Probably with his lawyers - it's not much money, and he had plenty of time to make a deposit anticipating possibility of charges.

            and there might just be a jet awaiting to whisk him to a non-extradition country.

            So you're talking about a Literal flight risk now?

            Flying a plane to exit across the US border requires the pilot reporting in to CBP with a much information, the manifest and identity of all passenger

      • Well, at least he's probably having lots of sex.

    • I wonder how many fraudsters who run off to some pretty island ever consider "Gee... the jails here are pretty bad, maybe when my fraud is discovered, I shouldn't be here in this country that has horrible prisons and an extradition treaty with the country where I committed the fraud."

      I'm guessing it didn't even cross SBFs mind.

      • A quick look at the Wikipedia article on Bahamas shows this near the top: " In terms of gross domestic product per capita, the Bahamas is one of the richest independent countries in the Americas (following the United States and Canada), with an economy based on tourism and offshore finance."
        So the prison there might be ok.

    • You must have read the same report I did.

      Apparently there no Vegan menu either. Just eat the swill and don't ask what is in it.

      He's worse off than the Spook in the Wizard of Id.

      Has anyone heard what manner of deal Caroline is cutting for herself?

  • playing the victim. (Score:3)

    by bloodhawk ( 813939 ) on Monday December 19, 2022 @06:29PM (#63143940)
    basically consenting to something that was obviously inevitable. Better to play the part of the victim trying to clear your name and look to be doing the right thing, I am sure that came as advise from his lawyers..

    • I am sure that came as advise from his lawyers..

      He's been playing the victim since before FTX even went under, long before lawyers got involved. More likely his lawyers just told him to agree otherwise he'd be delaying the inevitable.

  • “Agreed” (Score:3, Funny)

    by hdyoung ( 5182939 ) on Monday December 19, 2022 @06:42PM (#63143980)
    to extradition? Heh. Hehehe. Hahahahahah.

    Who does this guy think he is? Snowden hiding out in RusLand? Like he had a “choice”. Hahaha. That guy gave up the chance to flee when he decided to camp out in his luxury sex-and-drug mansion. Maybe, just maybe, he could have fled to Russia, if he had jumped ship the instant things started to go wrong.

    Oh, wait, he’s Jewish. Wrong religion. Nevermind.

    Before someone downmods me for the religion thing - it’s not meant to be antisemetic. Just an observation that his chances of getting a warm welcome in Russia is equal to zero. Russians do NOT like jews.

    • Well you can file to fight your extradition but it's only a delay tactic.

    • "Russians do NOT like jews."

      More than that. Snowden took a huge personal risk over what he believed was right. SBF transferred the risk from himself to others to do well for himself, or so he thought he could. You don't really want that kind of person in your community, regarldless of his religion.

      • You're right that there are big differences between Snowden and SBF, but personal integrity is something that Russia gives absolutely zero f&**s about. They certainly didn't view Snowden through some positive lens because they thought he was standing up for something he believed it. They just saw an opportunity to get another geopolitical pawn on the board.

        • For my part, you are absolutely right that the Russian GOVERNMENT uses Snowden as a pawn, but to say that personal integrity is something that Russia -- meaning the Russian PEOPLE -- "gives absolutely zero f&**s about" is ideological nonsense. For one thing, every community critically depends on such people, and for another, Russians are a proud people; you don't get 22 million of your own killed fighting Germans if you are not willing to sacrifice yourself for your values.

          All that is to say, easy for t

  • Imagine saying "Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision." and not cracking up laughing.

    That guy is a real pro.

  • He is not in the position to agree or not. Nobody asks you, "Would you please go to jail?" Emm, ok. Fraud is fraud, big temptation on gullible people with proportional consequences.

    • Re: (Score:2)

      by mysidia ( 191772 )

      Ofc he can agree to extradition.

      Now if he will just go ahead and plead guilty; he could make this a lot easier. See, agreeing is possible at every stage? But if he wants to do what's in his interests; he'll probably want to hold out for a possible plea bargain, and maybe get 50 years instead of 150 years.

  • He wasn't given ball and so would have had to sit in a Bahamian jail. I'm sure he would much rather sit in a US jail. If he was given bail, he would have continued to fight the extradition.

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