February 2, 2023

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FTX’s Bankman-Fried is expected to appear in court in the Bahamas

©Reuters. Founder and former CEO of cryptocurrency exchange FTX Sam Bankman-Fried exits the District Courthouse in Nassau, Bahamas, December 19, 2022. REUTERS/Marco Bello 2/2

NASSAU (Reuters) – Former FTX chief Sam Bankman-Fried, who is charged with fraud over the collapse of the bankrupt cryptocurrency exchange in the United States, is expected to appear in court in the Bahamas on Tuesday, a person familiar with the matter said.

The hearing would come after another person with knowledge of Bankman-Fried’s plans told Reuters that he had decided not to fight extradition to New York, where federal prosecutors last week accused him of using stolen FTX client funds, to recoup losses at his hedge fund Alameda Research.

Neither a spokesman for the US Attorney’s Office in Manhattan nor the defense attorney for Bankman-Fried immediately responded to requests for comment.

Bankman-Fried appeared in court in the capital Nassau on Monday after Reuters and other media reported over the weekend that he had decided to agree to extradition. But during the tumultuous hearing, a Bahamas attorney for Bankman-Fried said his client wanted to see the US indictment against him before agreeing to leave the Caribbean state.