FTX Co-founder Sam Bankman-Fried, who faces extradition to the US to face criminal fraud charges, made his first appearance in Bahamas court since his arrest on Monday.
(Bloomberg) — FTX Co-founder Sam Bankman-Fried, who faces extradition to the US to face criminal fraud charges, made his first appearance in Bahamas court since his arrest on Monday.
Bankman-Fried was dressed in a blue suit and white shirt for the arraignment proceedings. Shortly after they began the judge called a recess to discuss the case with his lawyers.
The hearing in Nassau is the first step in a legal process that may result in Bankman-Fried being extradited to the US.
On Tuesday, federal prosecutors in Manhattan revealed that they had charged him with eight criminal counts, including conspiracy and wire fraud, for allegedly misusing billions of dollars in customers’ funds before last month’s spectacular collapse of his cryptocurrency empire.
“Mr. Bankman-Fried is reviewing the charges with his legal team and considering all of his legal options,” Mark Cohen, his attorney said in a statement on Tuesday.
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