On Monday, Sam Bankman-Fried is due to be heard to explain that he will ultimately not contest his extradition to the United States. When that happens, he would then have to go to a New York prison, or his suburbs, to await trial.
Sam Bankman-Fried will agree to his extradition to the United States
Every day its new twist on the FTX deal. While we learned just two days ago that Sam Bankman-Fied (SBF) has reiterated his bail request, our colleagues at Reuters report this time that the interested party finally accepts his extradition.
After an initial challenge, SBF seems resigned, and it should be heard on monday reconsider your original request.
When Sam Bankman-Fried’s extradition to the United States is effective, he is expected to be transferred to the United States Brooklyn Metropolitan Detention Center, according to attorney Zachary Margulis-Ohnuma. However, the latter indicates that the former CEO could also be imprisoned in the suburbs of New York, due to the overcrowding of this prison.
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Furthermore, even in the United States, SBF is expected to remain in detention and is again at risk of being refuse bail. This stems from several factors. First, the seriousness of the case, Damian Williams, the attorney for the Southern District of New York, incidentally cited as one of the “largest financial fraud in American history».
Then there is always risk of absconding for the accusedas well as the location of some funds which remains to be defined. Attorney Michael Weinstein developed this last point:
“The missing money provides prosecutors with a solid case that he is a flight risk. I expect that if a judge grants bail, he will impose very restrictive and onerous conditions. »
On the other hand, Reuters legal sources indicate that any lawsuits regarding the case it is unlikely to happen for more than a yearwhich is understandable given the complexity of the case. In fact, we recall that Sam Bankman-Fried is the subject of eight charges, which make him risk up to a maximum of 115 years in prison.
👉 Also in the news: Democrats are preparing to return part of Sam Bankman-Fried’s donations
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Source: Reuters
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I timidly discovered the world of blockchain in late 2018 during my quest for financial freedom. Initially invested moderately, only two years later I took the bet of betting everything on the movement that was then taking shape. I then dedicate 2021 to training better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I know, I want to share with you.
Vincenzo Mayor
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