and the story flips again

https://www.bostonherald.com/2...ition-attorney-says/

Sam Bankman-Fried may be ready to come to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX following a chaotic court appearance in the Bahamas.

A lawyer for Bankman-Fried was quoted as saying Monday the disgraced FTX founder has agreed to be extradited to the United States. A court hearing was stopped earlier in the day when his attorneys said it was premature for him to stand before the court.

Jerone Roberts, a local defense attorney for Bankman-Fried, told The New York Times that lawyers will prepare the necessary documents for extradition. “Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision,” the Times quoted Roberts telling reporters.

It was not immediately clear when extradition could occur.

The court appearance came just a week after Bankman-Fried’s lawyers had initially said that they planned to fight extradition. An extradition hearing had been scheduled for Feb. 8. The reversal could speed up the timetable for him to be sent to the U.S.

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sounds like it was Jerome Roberts who caused the confusion

more here:

https://www.msn.com/en-us/news...o-the-us/ar-AA15rORh

Bankman-Fried is expected to appear back in court Tuesday morning, according to a spokesperson at the Fox Hill prison where he is being held in the Bahamas.

The Nassau Magistrate Court opens at 9:30 a.m. ET, with the first hearings beginning at 10 a.m. ET. Bankman-Fried’s hearing is expected to be among the first of the day.

Roberts told the journalist on Monday afternoon that there’s a possibility Bankman-Fried, known as SBF, could be extradited the very same day as his next court appearance.

Earlier on Monday, extradition proceedings for Bankman-Fried appeared to be stalled as his Bahamian attorney and local prosecutors argued bitterly in court.

Prosecutors indicated there had been an agreement with Bankman-Fried’s US attorneys to allow his extradition to the United States to face federal charges. But Bankman-Fried’s Bahamian attorney, Roberts, said he himself had not been part of that agreement.

It appears his US and Bahamians attorneys aren't in sync. You'd want your local Bahamian attorney to be completely coordinated with the US Attorney regarding the indictment(s) and whether he should or should not accept extradition. There seems to be a gap on coordination and strategy.

quote:

If sentenced consecutively.
He’ll likely get around 10 years.

The cases are very different. One is a fraud case, but SBF stole flat out stole from FTX and sent it to Alameda to invest. He also "borrowed" $1 billion that has not been accounted for.

Madoff received a 150 year sentence. I suspect SBF will receive at least 50 years.

Or maybe the Bahamian attorney is seeing his big "extradition fighting" paycheck and the accompanying media attention vanish before his eyes, and isn't too happy with it.

Yup. This dude is going away for a very long time. It ain't going to be no measly ten years.

Will he get free diapers while serving his time??

Should be able to chase all that Blockchain crypto down, because it’s just nothing but ledgers…at least where it went.

https://www.foxbusiness.com/ec...ces-criminal-charges

Sam Bankman-Fried, the founder of the now-collapsed cryptocurrency exchange FTX, is preparing to head to the U.S. Wednesday to face charges after a Bahamas judge approved his extradition request.

The 30-year-old consented to be extradited in part of a "desire to make the relevant customers whole," his lawyer read from an affidavit inside a Bahamas courtroom, according to Reuters.

The decision enables Bankman-Fried to be flown to the U.S. as early as this afternoon, the news agency adds. Officials with the FBI and U.S. Marshals Service arrived in Nassau this morning, Reuters also reported, citing a person familiar with the matter.

So what about his two co-executives who also had back door access to the money, Nishad Sing and Gary Wang? I believe no one knows where they are, plus someone "hacked" the FTX website 10 days ago, and removed the last half million dollars.

My guess is that there are warrants out for the pair, but that information is kept secret. Authorities are probably hoping one or both will show up somewhere.

I hope the cameras work in his cell block…

I hear he will be given bail.

^^^
Where did you 'hear' that?

The media of course. It is ultimately up to the judge. The issue is whether he will be a flight risk. His attorneys have been working on this. The MDC is not a place anyone wants to be.

Sam Bankman-Fried Said to Be in Talks With Prosecutors Over Bail Deal
Lawyers for the FTX founder are in talks about a deal that could allow him to be released on bail when he is extradited to the United States on fraud charges.

LINK; https://www.nytimes.com/2022/1...kman-fried-bail.html

SBF probably got tired of the menu, "red beans and rice again, and what the hell is this fish paste?" Or, maybe it is easier to get his pot, meth, et. al. in a NY jail than in the Bahamas.

quote:

Originally posted by gearhounds:
I hope the cameras work in his cell block…

Actually, I'm hearing that he will likely be housed in the same jail that Epstein was kept in when he was killed... I mean, when he killed himself.

He'll spend the rest of his life in the gray bar hotel.

Piss off and/or expose the commies and expect to do some serious time...or worse.

Wang and Ellison plead guilty to fraud and are cooperating.

https://mol.im/a/11564593

^^^^ related

Two former top executives of Sam Bankman-Fried’s crypto trading empire have pleaded guilty to federal criminal fraud charges and are cooperating in the case against the disgraced crypto entrepreneur, the U.S. attorney for the Southern District of New York said on Wednesday night.

The two are Caroline Ellison, who was the chief executive of the cryptocurrency trading company Alameda Research, and Gary Wang, a founder of the FTX crypto exchange. They were key lieutenants in Mr. Bankman-Fried’s vast business empire, which rested primarily on FTX and Alameda, companies that he founded and ran.

The Securities and Exchange Commission also filed civil fraud charges against Ms. Ellison and Mr. Wang on Wednesday. The S.E.C. said that Ms. Ellison, 28, had misused FTX customer deposits to fund Alameda’s trading activity and that Mr. Wang, 29, had created software that allowed that diversion of funds to take place. The S.E.C. case builds on civil charges filed against Mr. Bankman-Fried, 30, this month.

The combination of criminal and civil charges against the former top executives puts Mr. Bankman-Fried in an even more perilous legal position, with the federal government having said he oversaw a sweeping, yearslong fraud that transformed him from one of the most powerful people in the crypto industry into a criminal defendant potentially facing decades in prison.

Federal prosecutors and regulators in the United States have said Mr. Bankman-Fried carried out a fraud that diverted billions in customer money for other uses, including buying real estate in the Bahamas, trading crypto at Alameda, making campaign donations and investing in other crypto companies

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remember when Sam boy was talking so much a few weeks ago, he kept saying he didn't know what happened in Alameda. He was throwing Caroline Ellison under the bus.

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The guilty pleas by Ms. Ellison and Mr. Wang could push other former executives to cooperate with the authorities in the case against Mr. Bankman-Fried, who has been charged with fraud, money laundering and campaign finance offenses.

The U.S. attorney, Damian Williams, said Mr. Wang and Ms. Ellison were charged “in connection with their roles in the fraud that contributed to FTX’s collapse.”


Mr. Williams also reiterated a point he made last week when the criminal charges against Mr. Bankman-Fried were announced. “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” Mr. Williams said. “We are moving quickly and our patience is not eternal.”

During a two-week media blitz before his arrest on Dec. 12, Mr. Bankman-Fried claimed he had done nothing wrong and had not intended to defraud anyone. He also claimed he wasn’t fully aware of what was happening at Alameda.

Mr. Williams, in his statement, also said Mr. Bankman-Fried was in F.B.I. custody and being flown back to the United States, and would be presented before a judge as soon as possible. He is expected to be taken into Federal District Court in Manhattan as early as Thursday.

In its complaint, the S.E.C. said Ms. Ellison, under direction from Mr. Bankman-Fried, had manipulated the price of a digital currency that FTX created, called FTT, by buying large quantities of the crypto token to prop up its price.

Alameda was one of the major firms that was trading FTT and had used the crypto token as collateral for loans it got from other big crypto firms to fund its trading.

As FTX collapsed, Ms. Ellison gathered a group of Alameda staff members who were working from the company’s office in Hong Kong, and confessed that the firm had used customers’ deposits to fill a shortfall in its accounts, according to a person familiar with the matter.

A former software engineer at Google, Mr. Wang, a graduate of the Massachusetts Institute of Technology, was one of Mr. Bankman-Fried’s closest confidants at FTX. The pair lived together in a luxury apartment complex in the Bahamas.

It got real tonight for SBF. I don't see 'Bail' in the cards given their guilty pleas and agreeing to be cooperating witnesses against SBF but, I could be wrong. In any case, others will be rolling over shortly.

It depends on whether the Judge feels he is a flight risk.