Federal authorities are set to transfer bankrupt billionaire Sam Bankman Fried to the United States on Wednesday to face a host of criminal charges related to the collapse of the FTX cryptocurrency exchange.
It comes after Bankman-Fried signed surrender documents on Tuesday, according to the Bahamas’ acting commissioner of corrections, Duane Clare. He will sign a separate set of papers to finalize his waiver of the rights to withhold extradition in the Nassau Magistrates Court today, Wednesday, according to Bloomberg, which was seen by Al Arabiya.net.
After that, he will accompany Co-founder of “FTX” FBI agents are on a plane to the United States, Bloomberg reported, citing sources. One source said the plane would depart from a private airport in the Bahamas.
His return to the United States capped a week of speculation about when Bankman Fried would return to face charges including fraud.
Since being denied bail at a preliminary hearing last week, Bankman-Fried has been held in a spooky correctional facility on the outskirts of Nassau known as Fox Hill.
While arrangements may change, plans say Bahamian officers will escort Bankman Fried from jail to court on Wednesday morning.
Although he initially said he would fight the extradition, Bankman Fried recently indicated in private conversations that he was preparing to return to the United States as soon as Monday, Bloomberg News reported. The change of heart was partly related to the expectation that he would be able to get bail in the US.
Last week, the US Attorney’s Office for the Southern District of New York unveiled an eight-count indictment against him.