FTX co-founder Sam Bankman-Fried handed over to US authorities, en route to New York

FTX co-founder Sam Bankman-Fried handed over to US authorities, en route to New York

Fallen crypto mogul Sam Bankman-Fried has officially been extradited to the US, where he will face fraud and other criminal charges related to the rapid implosion of his cryptocurrency exchange company FTX, Bahamian authorities confirmed.

Bankman-Fried was transported in a dark SUV to Nassau’s Odyssey Airport shortly before 7 p.m. Wednesday night and from there was scheduled to depart the Bahamas on a flight to New York.

He will likely appear in front of a US judge on Thursday.

Video from Bahamian media shows Bankman-Fried was escorted to a private runway at Nassau’s airport by a long police motorcade.

Hours earlier, the 30-year-old alleged fraudster appeared in the Magistrate Court building in Nassau, where he confirmed to the judge that he is waiving his right to a lengthy extradition ­hearing.

A plane is prepared to fly FTX co-founder Sam Bankman-Fried to the United States at Odyssey Aviation after he was taken into the custody of officials from the United States on December 21, 2022 in Nassau, Bahamas. The former crypto billionaire is being extradited to the US from the Bahamas to face charges over FTX’s multi-billion-dollar collapse.  (Photo by Joe Raedle/Getty Images)
FTX Founder Sam Bankman-Fried Extradited To The U.S. From The Bahamas
Sam Bankman-Fried departed from Odyssey Airport in Nassau for New York on Wednesday.
Getty Images
Sam Bankman-Fried
The former crypto mogul could spend the rest of his life behind bars, if convicted.

He said he consented to extradition because he wants “to make the relevant customers whole,” according to court papers — reversing his initial decision to fight the process.

The disgraced crypto king was arrested last week by law enforcement in the Bahamas  where he had been living at the time after he was indicted in the Southern District of New York.

If he is not released on bail in New York, he is likely to be locked up in Brooklyn’s notorious Metropolitan Detention Center as he awaits trial.

Prosecutors allege Bankman-Fried hid FTX’s financial problems from the public and defrauded investors out of over $1.8 billion. 

The Securities and Exchange Commission accused Bankman-Fried of illegally using investors’ money to fund his Alameda Research hedge fund and buy real estate on behalf of himself and his family. He’s also charged with wire fraud, money laundering and campaign finance charges.

US Attorney Damian Williams blasted Bankman-Fried’s alleged crimes as among “the biggest financial frauds in American history.” 

Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas, December
Bankman-Fried left the Magistrate Court building in Nassau carrying a trash bag holding his personal belongings, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters.
Video shows a police convoy reportedly transporting FTX founder Sam Bankman-Fried arriving at a local airport near Nassau, Bahamas
A Bahamian police motorcade escorted Bankman-Fried to the airport, local outlets reported.
AFP via Getty Images

If convicted, he faces a maximum of 115 years in prison..

FTX had been valued at up to $32 million before its sudden collapse on Nov. 11 when Bankman-Fried stepped down as CEO and the firm said it was bankrupt.

The ex-CEO has admitted to multiple missteps, but insisted he did not commit any crimes. 

Since his Dec. 12 arrest, Bankman-Fried was locked up in the reportedly rat-infested Fox Hill Prison in the Bahamas, which was chastised by the US State Department last year for being overcrowded and lacking plumbing.

Bankman-Fried, however, reportedly enjoyed special perks such as air-conditioning and cable TV during his short stint at the prison.

With Post wires

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