Former FTX CEO SBF Faces Possibility of Extradition to US for Questioning

Amidst speculation over Sam Bankman-Fried’s whereabouts, the authorities are mulling over extraditing the former CEO of the bankrupt crypto exchange, FTX, back to the United States.

According to the latest Bloomberg report, law-enforcement officials in the US and Bahamas have been engaged in talks over SBF as they investigate his role in FTX’s implosion. People familiar with the matter said that Bankman-Fried has been cooperating with Bahamian authorities.

The Bahamian securities regulators and financial investigators have launched a probe into the fall of FTX and are looking for potential criminal misconduct by its operators.
Even though none of the execs, including SBF, have been charged with anything yet, many speculate that his behavior, as well as FTX’s business practices, demonstrated fraud.
A former deputy attorney general believes the US Justice Department, which recently opened an investigation into the matter, could bring criminal charges against the once-crypto billionaire.
The potential extradition development comes after reports of the disgraced exec running off to South America surfaced. FlightRadar24 tweeted last week that SBF was flying from Nassau to Argentina.
But Argentina does not make for an ideal destination to evade authorities in the US. SBF later told Reuters that he is still in the Bahamas.
It was also reported that the SBF, along with FTX co-founder Gary Wang and director of engineering Nishad Singh, was in the Bahamas “under supervision” by the local authorities.
Bankman-Fried stepped down as the chief executive of the FTX group as part of a bankruptcy filing. He apologized to users and vowed to make them “whole.”
On Tuesday, he posted that he was meeting with regulators and wanted to help FTX customers.
Bitcoin bull and executive chairman of MicroStrategy lashed out at Bankman-Fried for lobbying against “all of the virtues of the industry,” including bitcoin, by leveraging counterfeit finances and bribing certain individuals.

The post Former FTX CEO SBF Faces Possibility of Extradition to US for Questioning appeared first on CryptoPotato.

Related Posts

Russia President Putin Calls For Blockchain-based International Payment System

Russian President Vladimir Putin said there is a need for a new and independent international settlement system amidst the sanctions and restrictions placed on his country. President…

Putin calls for blockchain-based international payment system

The Russian President criticized Western’s sanctions and urged for a system “independent of external interference”. Russian President Vladimir Putin criticized monopoly in global financial payment systems and…

Bitcoin price consolidation has shifted traders to these 4 altcoins

DOGE, LTC, LINK, and APE are showing signs of buying even as Bitcoin’s next directional move remains uncertain. Bitcoin (BTC) has been trading in a tight range…

A Dozen Digital Assets Record Double-Digit Gains as Crypto Markets Begin to Heal After FTX’s Collapse

At the time of writing the global cryptocurrency market capitalization is hovering around $842 billion on Sunday, Nov. 27, 2022. Bitcoin prices consolidated since the start of…

Another Orbeon Protocol (ORBN) Spike Propels Holders to Impressive Gains

[PRESS RELEASE – Please Read Disclaimer] When you’re just starting to learn about cryptocurrency investing, it can be hard to know which coins and tokens are worth…

El Salvador Launches a National Bitcoin Office (ONBTC)

El Salvador’s government doubled down on its crypto initiatives by creating a National Bitcoin Office (ONBTC) that will oversee all local projects related to the asset. The…

Generated by Feedzy