Sam Bankman-Fried’s extradition hearing set for Wednesday

Securities attorney Andrew Stoltmann discusses the charges against FTX founder Sam Bankman-Fried and what’s next for the former crypto CEO on ‘Kennedy.’ The founder and former CEO of FTX will have a hearing Wednesday in a Bahamian court on his possible extradition US Sam Bankman-Fried faces criminal charges related to the collapse of the cryptocurrency exchange, a source familiar with the matter told The Associated Press.The source spoke on condition of anonymity because they were not authorized to speak on the record. Bankman-Fried’s lawyers said that their client had agreed to be extradited to the US, but the necessary paperwork had not yet been written up. FTX: WHAT SAM BANKMAN-FRIED’S ATTORNEYS WILL LIKELY ARGUE IN HIS DEFENSE The founder and former CEO of cryptocurrency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas, Dec. 19, 2022. (REUTERS/Marco Bello / Reuters Photos)Earlier reports said his defense lawyer told the court that his client was holding off on agreeing to extradition until he had seen the indictment facing him in the USIt was not immediately clear when Bankman- Fried’s extradition could occur once it is approved by the Bahamian court. In total, Bankman-Fried faces charges of conspiracy to commit wire fraud on customers; committing wire fraud on customers; conspiracy to commit wire fraud on lenders; committing wire fraud on lenders; conspiracy to commit commodities fraud; conspiracy to commit securities fraud; A conspiracy to commit money laundering, a conspiracy to defraud the US, and violate campaign finance laws. FTX founder Sam Bankman-Fried (C) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. (MARIO DUNCANSON/AFP via Getty Images / Getty Images) FTX’S BANKMAN-FRIED APPEARS TO FALL ASLEEP DURING COURT HEARINGBahamian authorities arrested Bankman-Fried last week at the request of the US government. The 30-year-old could potentially spend the rest of his life in jail. Bankman-Fried was denied bail Friday after a Bahamian judge ruled that he posed a risk. This illustration photo shows a smartphone screen displaying the logo of FTX, the crypto exchange platform, with a screen showing the FTX website in the background. ( Olivier Douliery /AFP via Getty Images / Getty Images) CLICK HERE TO READ MORE ON FOX BUSINESS Once he’s back in the US, Bankman-Fried’s attorney will be able to request that he be released on bail. Press contributed to this report.

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