FTX’s Sam Bankman-Fried Will Not Be Extradited To The United States 14
Sam Bankman-Fried Leaving The Bahamas Court In Custody (Source: CNBC)

FTX’s Sam Bankman-Fried Will Not Be Extradited To The United States

  • A Bahamian magistrate has issued orders to extend the remand of Sam Bankman-Fried.
  • The former FTX CEO was expected to drop his extradition fight today in court. 
  • SBF was reportedly shaking in the courtroom.
  • He will return to the Bahamas’ notorious Fox Hill prison. 

Following a rather chaotic hearing today at the Nassau courthouse, Bahamian magistrate Shaka Serville ruled that Sam Bankman-Fried will not be extradited to the United States yet. The magistrate has issued orders to remand the former FTX CEO in the country. 

Sam Bankman-Fried intended to waive his extradition

The news comes as a surprise given the widespread reports of Sam Bankman-Fried’s intention to surrender himself to U.S custody. According to a report by CNBC, even the Bahamian prosecutor acknowledged SBF’s intention to waive extradition. As per the report, Sam Bankman-Fried demanded to see a copy of his federal indictment. 

SBF was reportedly shaking in the courtroom. His defense attorney informed the court that Bankman-Fried’s presence in the court came as a “shock” to him. “I did not request him to be here this morning,” the attorney said. The former crypto billionaire will be taken away to Fox Hill prison in a heavily guarded convoy following the magistrate’s orders. 

No relief in sight for Sam Bankman-Fried

Sam Bankman-Fried was first remanded to the notorious Fox Hill prison last week after the court rejected his bail plea citing a flight risk. Given that he needed medical care, SBF was kept in the medical unit of the prison. The prison is known for its precarious condition. Lack of hygienic cells, poor nutrition, inadequate sanitation, and medical care among other things. 

Following the rejection of SBF’s bail application, his attorneys indicated that they would fight extradition at today’s hearing. However, reports emerged over the weekend that signaled that the former FTX CEO was ready to drop his extradition fight.