FTX co-founder Bankman-Fried extradited to US
FTX co-founder Sam Bankman-Fried arrived in the United States from the Bahamas in FBI custody on Wednesday, US media reported, facing criminal fraud charges after the spectacular collapse of the crypto exchange. FTX and its sister trading house Alameda Research went bankrupt last month, dissolving a virtual trading business that had been valued by the market at US$32 billion. Prosecutors allege Bankman-Fried cheated investors and misused funds that belonged to FTX and Alameda Research customers. US Attorney Damian Williams announced on Wednesday the 30-year-old would be "transported directly to the Southern District of New York" on arrival in the United States. The plane carrying Bankman-Fried arrived on Wednesday night, US media reported. Earlier in the Bahamas – where FTX is headquartered – he had waived his right to challenge the US extradition request, the island nation's attorney general said. US prosecutors last week charged Bankman-Fried with conspiracy, wire fraud, money laundering and election finance violations. He "was orchestrating a massive, years-long fraud, diverting billions of dollars of the trading platform's customer funds for his own personal benefit and to help grow his crypto empire," they said. Five of the eight counts against Bankman-Fried carry a maximum sentence of 20 years in prison each. The SEC separately accused him of violating securities laws. (AFP)